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

Section 42 Disposition versions

2022-09-01

42. The emission units referred to in the ninth paragraph of section 40 and the first paragraph of section 41.1 are placed in the general account of the emitter.

The units referred to in this Division come from the allocation account of the Minister or, if that account does not contain enough units, from the Minister’s reserve account using, in order,

(1)  the Category C, B and A emission units as determined in section 58;

(2)  within a given category, emission units of the vintage of the year of the free allocation, emission units of the vintage of a previous year from the most recent to the least recent, and non-vintage units.

When all the emission units in the Minister’s reserve account have been paid in accordance with this Division, the units that remain to be paid come from the auction account or the issuance account using, in order, emission units of the vintage of a previous year whose sale was not announced in the notice of auction, emission units of the vintage of the current year whose sale was not announced in the notice of auction, and emission units of the vintage of the following year.

The reserve account is replenished using the emission units in excess of the total estimated quantity that may be allocated free of charge for a year that may be sold in accordance with Division III of this Chapter. The emission units paid into the reserve account in this way are identified as belonging to the category replenished.

O.C. 1297-2011, s. 42; O.C. 1184-2012, s. 26; O.C. 902-2014, s. 27; O.C. 1288-2020, s. 9; O.C. 1462-2022, s. 32.

2021-01-01

42. The emission units allocated without charge in accordance with this Division are placed in the general account of the emitter.

The units come from the allocation account of the Minister or, if that account does not contain enough units, from the Minister’s reserve account using, in order,

(1)  the Category C, B and A emission units as determined in section 58;

(2)  within a given category, emission units of the vintage of the year of the free allocation, emission units of the vintage of a previous year from the most recent to the least recent, and non-vintage units.

When all the emission units in the Minister’s reserve account have been allocated, the units that remain to be allocated come from the auction account or the issuance account using, in order, emission units of the vintage of a previous year whose sale was not announced in the notice of auction, emission units of the vintage of the current year whose sale was not announced in the notice of auction, and emission units of the vintage of the following year.

The reserve account is replenished using the emission units in excess of the total estimated quantity that may be allocated free of charge for a year that may be sold in accordance with Division III of this Chapter. The emission units paid into the reserve account in this way are identified as belonging to the category replenished.

O.C. 1297-2011, s. 42; O.C. 1184-2012, s. 26; O.C. 902-2014, s. 27; O.C. 1288-2020, s. 9.

2014-10-22

42. The emission units allocated without charge in accordance with this Division are placed in the general account of the emitter.

The units come from the allocation account of the Minister or, if that account does not contain enough units, from the Minister’s reserve account using, in order, the Class C, B and A emission units as determined in section 58.

In the case of emission units from the reserve account referred to in the second paragraph, the category of emission unit is replaced by the same vintage of the allocation year. In addition, the reserve account is replenished using the emission units in excess of the total estimated quantity that may be allocated free of charge for a year that may be sold in accordance with Division III of this Chapter. The emission units paid into the reserve account in this way are identified as belonging to the category replenished.

O.C. 1297-2011, s. 42; O.C. 1184-2012, s. 26; O.C. 902-2014, s. 27.

2012-12-19

42. The emission units allocated without charge in accordance with this Division are placed in the general account of the emitter.

The units come from the allocation account of the Minister or, if that account does not contain enough units, from the Minister’s reserve account using, in order, the Class C, B and A units placed on reserve as determined in section 58.

In the latter case, the reserve account is replenished using the emission units in excess of the total estimated quantity that may be allocated free of charge for a year that may be sold in accordance with Division III of this Chapter. The emission units paid into the reserve account in this way are identified as belonging to the category replenished.

O.C. 1297-2011, s. 42; O.C. 1184-2012, s. 26.

2012-09-01

42. The emission units allocated without charge in accordance with this Division are placed in the general account of the emitter.

The units come from the allocation account of the Minister or, if that account does not contain enough units, from the Minister’s reserve account using, in order, the Class C, B and A units placed on reserve as determined in section 58.

In the latter case, the reserve account is replenished using the emission units available following the adjustment for subsequent years carried out in accordance with the first, second and third paragraphs of section 41, or using the units issued in excess and surrendered to the Minister in accordance with the fourth paragraph of that section. The serial numbers of the emission units placed in this way in the reserve account are replaced by numbers corresponding to the category replenished.

O.C. 1297-2011, s. 42.