41. After the filing of the emissions report for the year during which the issue referred to in the fourth paragraph of section 40 is made, an adjustment is made to the remaining 25% of the total estimated quantity of emission units that may be allocated without charge.
The Minister calculates the adjustment by subtracting the quantity of emission units issued from the actual total quantity of emission units that may be allocated without charge to an eligible emitter for the year covered by the emissions report, determined in accordance with Part II of Appendix C.
On 14 September of each year beginning in 2014 or, if that day is not a working day, on the first following working day, the Minister places, in the emitter’s general account, the quantity of emission units corresponding to any positive result of the adjustment calculation.
When the result of the adjustment calculation is negative, the Minister notifies the emitter who must, within 30 working days, place in its compliance account a quantity of emission units, of the vintage of the year for which the allocation referred to in the fourth paragraph of section 40 was made or of a prior vintage, equal to the excess quantity issued following the estimate made in accordance with that section; upon a failure to comply, the emission units are taken from the emitter’s general account. The emission units are then transferred to the Minister’s reserve account when units are required to be surrendered in accordance with the third paragraph of section 42, or transferred to the Minister’s auction account.
Upon a failure by the emitter to place the emission units in its compliance account within the time provided for in the fourth paragraph or to have enough emission units in the emitter’s general account, the Minister reduces the following allocation free of charge by an equivalent quantity of emission units.
When the operator of a covered establishment changes before 14 September of a given year, the new operator receives the allocation provided for in the third paragraph or, where applicable, meets the requirements of the fourth paragraph, if, not later than the business day immediately preceding that date, the former operator has notified the Minister of the change pursuant to the first paragraph of section 17.
O.C. 1297-2011, s. 41; O.C. 1184-2012, s. 25; O.C. 1089-2015, s. 18; I.N. 2016-01-01 (NCCP); O.C. 1125-2017, s. 3012.