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

Section 14.2 Disposition versions

2022-09-01

14.2. A participant may request that the Minister close the participant’s general account and cancel the participant’s registration by providing the following information:

(1)  the participant’s name and contact information;

(2)  the participant’s account number;

(3)  the participant’s signature or, if the participant is not a natural person, the signature of one of the participant’s account representatives, of a director or any other officer, or a resolution of its board of directors, with the date of the request.

When the Minister notes, in the enterprise register, that a participant’s registration has been cancelled for at least 1 year, the Minister notifies the participant that, after 30 days, the Minister may close the participant’s account and terminate the participant’s registration if the participant provides no valid reason for maintaining the account. When the account is closed, if it still contains emission allowances, the Minister may, as the case may be, recover them

(1)  by transferring the emission units in the account to the auction account;

(2)  by transferring the offset credits issued by a partner entity and early reduction credits to the retirement account; and

(2.1)  by transferring the other offset credits to the environmental integrity account;

(3)  by transferring the reserve units to the reserve account.

When the request referred to in the first paragraph concerns a general account that still contains emission allowances, a participant that is not a natural person must provide the signature of a director or officer.

When the Minister closes a general account that still contains emission allowances, the rules of the second paragraph concerning the recovery of emission allowances apply.

O.C. 1184-2012, s. 10; O.C. 1125-2017, s. 19; O.C. 1462-2022, s. 15.

2017-11-29

14.2. A participant whose account no longer contains any emission allowances may request that the Minister close the participant’s general account and cancel the participant’s registration by providing the following information:

(1)  the participant’s name and contact information;

(2)  the participant’s account number;

(3)  the participant’s signature or, if the participant is not a natural person, the signature of one of the participant’s account representatives, of a director or any other officer, or a resolution of its board of directors, with the date of the request.

When the Minister notes, in the enterprise register, that a participant’s registration has been cancelled for at least 3 years, the Minister notifies the participant that, after 30 days, the Minister may close the participant’s account and terminate the participant’s registration if the participant provides no valid reason for maintaining the account. When the account is closed, if it still contains emission allowances, the Minister may, as the case may be, recover them

(1)  by transferring the emission units in the account to the auction account;

(2)  by transferring the offset credits and early reduction credits to the retirement account; and

(3)  by transferring the reserve units to the reserve account.

O.C. 1184-2012, s. 10; O.C. 1125-2017, s. 19.

2012-12-19

14.2. A participant whose account no longer contains any emission allowances may request that the Minister close the participant’s general account and cancel the participant’s registration by providing the following information:

(1)  the participant’s name and contact information;

(2)  the participant’s account number;

(3)  the participant’s signature or, if the participant is not a natural person, the signature of the participant’s chief officer or chief financial officer or a resolution of its board of directors, with the date of the request.

O.C. 1184-2012, s. 10.