Q-2, r. 46.1 - Regulation respecting a cap-and-trade system for greenhouse gas emission allowances

Section 26 Disposition versions

2014-10-22

26. A transaction request for emission allowances must be proposed by one of the seller’s account representatives.

The transaction request is then submitted to all the seller’s other account representatives, for confirmation by one of them within 2 days of being submitted.

When the transaction request is confirmed, a notice is sent to all the seller’s account representatives and the request is submitted to the buyer’s account representatives, for acceptance by one of them within 3 days of the proposal of the transaction request.

Unless otherwise indicated by one of the account representatives or if the Minister has serious grounds to believe that an offence under this Regulation has been committed, once the transaction request has been accepted the emission allowances concerned by the request are transferred from the seller’s to the buyer’s general account.

At each step in the transaction request, the account representative concerned must attest to holding due authorization to complete the transaction for the emitter or participant, and that the information contained in the transaction request is true, accurate and complete.

The account representatives involved in the transaction of emission allowances must provide the Minister, on request and as soon as possible, with any additional information concerning the transaction.

O.C. 1297-2011, s. 26; O.C. 1184-2012, s. 18; O.C. 902-2014, s. 21.

2012-12-19

26. A transaction request for emission allowances must be proposed by one of the seller’s account representatives.

The transaction request is then submitted to all the other account representatives, for confirmation by one of them within 2 days of being submitted.

When the transaction request is confirmed, a notice is sent to all the seller’s account representatives and the request is submitted to the buyer’s account representatives, for acceptance by one of them within 3 days of the proposal of the transaction request.

Unless otherwise indicated by one of the account representatives or if the Minister has serious grounds to believe that an offence under this Regulation has been committed, once the transaction request has been accepted the emission allowances concerned by the request are transferred from the seller’s to the buyer’s general account.

At each step in the transaction request, the account representative concerned must attest to holding due authorization to complete the transaction for the emitter or participant, and that the information contained in the transaction request is true, accurate and complete.

The account representatives involved in the transaction of emission allowances must provide the Minister, on request, with any additional information concerning the transaction.

O.C. 1297-2011, s. 26; O.C. 1184-2012, s. 18.

2012-09-01

26. Within 5 business days following the confirmation of a transaction notice in accordance with the second paragraph of section 25 or on the date provided for in subparagraph 5 of the first paragraph of that section, the Minister records the transaction in the system by moving the emission allowances from the general account of the seller to the general account of the buyer, based on the type, vintage and serial numbers indicated in the notice or, if no serial numbers are indicated, chronologically, from the least recent to the most recent depending on their vintage and serial number.

O.C. 1297-2011, s. 26.