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

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53. Within 7 days after the results of the auction are sent to the bidders, every winning bidder must pay in full, by transfer, for the emission units awarded in accordance with section 52. If the financial guarantee has been submitted in the form provided for in subparagraph 1 of the second paragraph of section 48, the payment is withheld from the guarantee.
If the emission units are not paid for in full in the time prescribed under the first paragraph, the Minister withholds the amount owed from the financial guarantee provided in accordance with section 48. When more than one type of guarantee has been provided, the Minister uses the guarantees in the order set out in the second paragraph of that section.
Upon receiving payment from a winning bidder, made out to the Minister of Finance, or after applying all or part of a winning bidder’s guarantee used, the Minister records the emission units awarded in the bidder’s general account and, in the case referred to in the second paragraph of section 52, in the winning bidder’s compliance account.
All or part of a guarantee provided in accordance with section 48 that has not been used for the purposes of an auction is returned to the bidder.
The amounts collected during the auction are paid into the Green Fund established under the Act respecting the Ministère du Développement durable, de l’Environnement et des Parcs (chapter M‑30.001).
O.C. 1297-2011, s. 53; O.C. 1184-2012, s. 34; O.C. 1138-2013, s. 16; O.C. 902-2014, s. 34; S.Q. 2017, c. 4, s. 265.
53. Within 7 days after the results of the auction are sent to the bidders, every winning bidder must pay in full, by transfer, for the emission units awarded in accordance with section 52. If the financial guarantee has been submitted in the form provided for in subparagraph 1 of the second paragraph of section 48, the payment is withheld from the guarantee.
If the emission units are not paid for in full in the time prescribed under the first paragraph, the Minister withholds the amount owed from the financial guarantee provided in accordance with section 48. When more than one type of guarantee has been provided, the Minister uses the guarantees in the order set out in the second paragraph of that section.
Upon receiving payment from a winning bidder, made out to the Minister of Finance, or after applying all or part of a winning bidder’s guarantee used, the Minister records the emission units awarded in the bidder’s general account and, in the case referred to in the second paragraph of section 52, in the winning bidder’s compliance account.
All or part of a guarantee provided in accordance with section 48 that has not been used for the purposes of an auction is returned to the bidder.
The amounts collected during the auction are paid into the Green Fund in accordance with section 46.16 of the Environment Quality Act (chapter Q-2).
O.C. 1297-2011, s. 53; O.C. 1184-2012, s. 34; O.C. 1138-2013, s. 16; O.C. 902-2014, s. 34.
53. Within 7 days after the results of the auction are sent to the bidders, every winning bidder must pay in full, by transfer, for the emission units awarded in accordance with section 52. If the financial guarantee has been submitted in the form provided for in subparagraph 1 of the second paragraph of section 48, the payment is withheld from the guarantee.
If the emission units are not paid for in full in the time prescribed under the first paragraph, the Minister withholds the amount owed from the financial guarantee provided in accordance with section 48. When more than one type of guarantee has been provided, the Minister uses the guarantees in the order set out in the second paragraph of that section.
Upon receiving payment from a winning bidder, made out to the Minister of Finance, or after applying all or part of a winning bidder’s guarantee used, the Minister records the emission units awarded in the bidder’s general account and, in the case referred to in the third paragraph of section 52, in the winning bidder’s compliance account.
All or part of a guarantee provided in accordance with section 48 that has not been used for the purposes of an auction is returned to the bidder.
The amounts collected during the auction are paid into the Green Fund in accordance with section 46.16 of the Environment Quality Act (chapter Q-2).
O.C. 1297-2011, s. 53; O.C. 1184-2012, s. 34; O.C. 1138-2013, s. 16.
53. All or part of a guarantee provided in accordance with section 48 that has not been used for the purposes of an auction is returned to the bidder.
O.C. 1297-2011, s. 53; O.C. 1184-2012, s. 34.
53. Unless a bidder indicates otherwise, a guarantee submitted in accordance with section 48 and that is not used during an auction is retained for later auctions.
When a guarantee has been partly used, the remaining part may be used for a later auction provided it is equal to or in excess of the amount of the bidder’s bids.
The guarantee submitted for an auction may also be used for a sale by mutual agreement when the amount of the guarantee is equal to or in excess of the total of the bids submitted in accordance with this Division and the offers to purchase submitted in accordance with Division IV of this Chapter.
O.C. 1297-2011, s. 53.