N.J. Admin. Code § 7:27C-6.5

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

Section 7:27C-6.5 - Changing the CO[2] authorized account representative and his or her alternate for a general account; changes in ownership interest

(a) The CO[2] authorized account representative or his or her alternate may be changed at any time by submitting a superseding complete application for a general account pursuant to N.J.A.C. 7:27C-6.3(b). The change in the CO[2] authorized account representative or his or her alternate is effective upon receipt by the Department of the superseding complete application for a general account. Notwithstanding any such change, all representations, actions, inactions, and submissions by the previous CO[2] authorized account representative or the previous alternate CO[2] authorized account representative prior to the time and date when the Department receives the superseding application for a general account shall be binding on the new CO[2] authorized account representative and the new alternate CO[2] authorized account representative and the persons with an ownership interest with respect to the CO[2] allowances in the general account.

(b) In the event a person with an ownership interest in CO[2] allowances in a general account is not included on the list of such persons in the application for a general account, such person shall be deemed to be subject to and bound by the application for a general account, the representations, actions, inactions, and submissions of the CO[2] authorized account representative and his or her alternate, and the decisions, orders, actions, and inactions of the Department, as if the person were included on the list.

(c) Within 30 days following any change in the persons having an ownership interest with respect to CO[2] allowances in the general account, including the addition of persons, the CO[2] authorized account representative shall submit a revision to the application for a general account amending the list of persons having an ownership interest with respect to the CO[2] allowances in the general account to reflect the change.

N.J. Admin. Code § 7:27C-6.5

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