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Q-2, r. 46.1 - Regulation respecting a cap-and-trade system for greenhouse gas emission allowances
Section 21
Disposition versions
21. On 1 November following expiry of a compliance period or, if that day is not a business day, on the first following business day, at 8:00 p.m., every emitter must have at least as many emission allowances in its compliance account as its verified emissions and, where applicable, as the emissions increased in accordance with the first paragraph of section 19.1 for every covered establishment during the compliance period or, where applicable, during the years following the last compliance period for which emissions coverage was required.
The Minister deducts the required emission allowances in chronological order, from the least recent to the most recent according to their year of issue and vintage, in the following order:
(1) offset credits, up to the limit provided for in the second paragraph of section 20;
(1.1) emissions units from the Minister’s reserve account, using units from categories C, B and A, in that order;
(2) early reduction credits;
(3) emission units other than units referred to in subparagraph 1.1.
The emission allowances deducted by the Minister in accordance with this section are placed in the Minister’s retirement account and are extinguished.
21. On 1 November following expiry of a compliance period or, if that day is not a business day, on the first following business day, at 8:00 p.m., every emitter must have at least as many emission allowances in its compliance account as its verified emissions for every covered establishment during the compliance period or, where applicable, during the years following the last compliance period for which emissions coverage was required.
The Minister deducts the required emission allowances in chronological order, from the least recent to the most recent according to their year of issue and vintage, in the following order:
(1) offset credits, up to the limit provided for in the second paragraph of section 20;
(1.1) emissions units from the Minister’s reserve account, using units from categories C, B and A, in that order;
(2) early reduction credits;
(3) emission units other than units referred to in subparagraph 1.1.
The emission allowances deducted by the Minister in accordance with this section are placed in the Minister’s retirement account and are extinguished.
21. On 1 November following expiry of a compliance period, every emitter must have at least as many emission allowances in its compliance account as its verified emissions for every covered establishment during the compliance period or, where applicable, during the years following the last compliance period for which emissions coverage was required.
The Minister deducts the required emission allowances in chronological order, from the least recent to the most recent according to their year of issue and vintage, in the following order:
(1) offset credits, up to the limit provided for in the second paragraph of section 20;
(1.1) emissions units from the Minister’s reserve account;
(2) early reduction credits;
(3) emission units other than units referred to in subparagraph 1.1.
The emission allowances deducted by the Minister in accordance with this section are placed in the Minister’s retirement account and are extinguished.
21. On 1 November following expiry of a compliance period, every emitter must have at least as many emission allowances in its compliance account as its verified emissions for every covered establishment during the compliance period or, where applicable, during the years following the last compliance period for which emissions coverage was required.
The Minister deducts the required emission allowances in chronological order, from the least recent to the most recent according to their year of issue and vintage, in the following order:
(1) offset credits, up to the limit provided for in the second paragraph of section 20;
(2) early reduction credits;
(3) emission units.
The emission allowances deducted by the Minister in accordance with this section are placed in the Minister’s retirement account and are extinguished.
21. On the expiry of the compliance deadline, every emitter must have at least as many emission allowances in its compliance account as its verified emissions for every covered establishment during the compliance period or, where applicable, during the years following the last compliance period for which emissions coverage was required.
The Minister deducts from the emitter’s compliance account, in the order indicated in the coverage report, the required number of emission allowances.
If the coverage report does not indicate an order for deduction, or if the number of emission allowances to be deducted in order is insufficient to cover the GHG emissions, the Minister deducts the required emission allowances in chronological order, from the least recent to the most recent according to their year of issue and serial number, in the following order:
(1) offset credits, up to the limit provided for in the fourth paragraph of section 20;
(2) early reduction credits;
(3) emission units.
The emission allowances deducted by the Minister in accordance with this section are placed in the Minister’s retirement account and are extinguished.
