N.J. Admin. Code § 7:27C-11.6

Current through Register Vol. 56, No. 21, November 4, 2024

Section 7:27C-11.6 - Auction participant requirements

(a) To be classified by the Department as a bidder eligible to participate in a specific CO[2] allowance auction, a qualified participant must:

1. Be a member of a category of those eligible to participate in the specified CO[2] allowance action as indicated by the notice of CO[2] allowance auction issued pursuant to NJ.A.C. 7:27C-11.5(b);

2. Open and maintain a compliance account or general account, established pursuant to N.J.A.C. 7:27C-6.2 (a) or (b), respectively; and

3. Submit financial security, such as a bond, cash, certified funds, or an irrevocable stand-by letter of credit, in a manner and form acceptable to the Department, as specified in the notice of CO[2] allowance auction issued pursuant to N.J.A.C. 7:27C-11.5(b).

(b) Only one who meets the requirements at (a) above will be classified by the Department as a bidder and approved to participate in a specified CO[2] allowance auction.

N.J. Admin. Code § 7:27C-11.6

Adopted by 51 N.J.R. 992(a), effective 6/17/2019