60.1. During a sale by mutual agreement, an emitter’s account representative may not submit more than 1 offer, in Canadian dollars and in the form and using the procedure set out in the notice published in accordance with the second paragraph of section 57, indicating the number of units requested and the category corresponding to the maximum price per unit it is willing to pay for the units.
When the offer submitted by a purchaser exceeds the quantity of emission units needed by the purchaser to meet the purchaser’s coverage obligation under section 19, exceeds the purchaser’s holding limit determined in accordance with section 32 and 33, or exceeds the value of the financial guarantee submitted in accordance with the second paragraph of section 59, the Minister removes from the purchaser’s offer the quantity of excess emission units.
For the purposes of the second paragraph, the quantity of emission units needed by the purchaser to meet the purchaser’s coverage obligation under section 19 is determined by subtracting the quantity of emission units, early reduction credits and offset credits that may be used to cover the purchaser’s emissions from the quantity of declared and verified emissions that have not yet been covered in accordance with section 19.
O.C. 1184-2012, s. 38; O.C. 1138-2013, s. 18; 1288-2020O.C. 1288-2020, s. 131.