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

Full text
62. Within 7 days after the results of the sale are sent to the purchasers, every purchaser must pay in full, by transfer, for the emission units awarded in accordance with section 61. If the financial guarantee submitted in accordance with subparagraph 3 of the first paragraph of section 59 was 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 subparagraph 3 of the first paragraph of section 59. 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 section 48.
Upon receiving payment from a purchaser, made out to the Minister of Finance, or after applying all or part of a purchaser’s guarantee, the Minister records the emission units sold in the purchaser’s compliance account.
The amounts collected during a sale by mutual agreement 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. 62; O.C. 1184-2012, s. 40; O.C. 1138-2013, s. 19; S.Q. 2017, c. 4, s. 266.
62. Within 7 days after the results of the sale are sent to the purchasers, every purchaser must pay in full, by transfer, for the emission units awarded in accordance with section 61. If the financial guarantee submitted in accordance with subparagraph 3 of the first paragraph of section 59 was 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 subparagraph 3 of the first paragraph of section 59. 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 section 48.
Upon receiving payment from a purchaser, made out to the Minister of Finance, or after applying all or part of a purchaser’s guarantee, the Minister records the emission units sold in the purchaser’s compliance account.
The amounts collected during a sale by mutual agreement 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. 62; O.C. 1184-2012, s. 40; O.C. 1138-2013, s. 19.
62. If a purchaser fails to pay in full for the emission units assigned within 7 days of the sale, the Minister withholds the amount owed from the guarantee provided in accordance with subparagraph b of subparagraph 2 of the first paragraph of section 59. When more than 1 form of guarantee has been provided, the Minister uses the guarantees in the order set out in the second paragraph of section 48.
Upon receiving payment from a purchaser, made out to the Minister of Finance, or after applying all or part of a purchaser’s guarantee, the Minister records the emission units sold in the purchaser’s compliance account.
The amounts collected during a sale by mutual agreement 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. 62; O.C. 1184-2012, s. 40.
62. If a purchaser fails to pay in full for the emission units assigned within 30 days of the sale, the Minister withholds the amount owed from the guarantee provided in accordance with subparagraph b of subparagraph 2 of the first paragraph of section 59.
Upon receiving payment from a purchaser, made out to the Minister of Finance, or after applying all or part of a purchaser’s guarantee, the Minister records the emission units sold in the purchaser’s compliance account.
The amounts collected during a sale by mutual agreement 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. 62.