61. At the close of the sale by mutual agreement, the Minister sells the emission units placed on reserve by allocating the units from categories A, B and C, in that order.
When the total number of offers to purchase for a category of emission units placed on reserve is equal to or below the quantity of emission units available, the Minister allocates the emission units among the purchasers based on the offers received.
However, when the total of the offers to purchase for a given category is in excess of the quantity of emission units available, the Minister allocates the emission units
(1) by establishing the share of each purchaser by dividing the quantity of emission units requested in their offer to purchase by the total of the offers to purchase for that category; and
(2) by determining the number of emission units to be assigned to each purchaser by multiplying each purchaser’s share by the quantity of emission units available, rounding down to the nearest whole number;
(3) when emission units remain to be awarded, by assigning a random number to each purchaser and by awarding 1 emission unit per purchaser, in ascending order of the numbers assigned, until all the emission units have been awarded.
O.C. 1297-2011, s. 61; O.C. 1184-2012, s. 39.