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Q-2, r. 46.1 - Regulation respecting a cap-and-trade system for greenhouse gas emission allowances
Section 16
Disposition versions
16. When a participant’s general account has been inactive for at least 6 years, the Minister notifies the participant of the situation and of the fact that the Minister may, after 30 days, close the account and terminate the participant’s registration if no emission allowance is placed in the account during that period or if the participant provides no valid reason for maintaining the account.
When the participant’s general account still contains emission allowances, the Minister may, when closing the account, as the case may be, recover the allowances
(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.
16. When a participant’s general account has been inactive for at least 6 years, the Minister notifies the participant of the situation and of the fact that the Minister may, after 30 days, close the account and terminate the participant’s registration if no emission allowance is placed in the account during that period or if the participant provides no valid reason for maintaining the account.
When the participant’s general account still contains emission allowances, the Minister may, when closing the account, as the case may be, recover the allowances
(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.
16. When a participant’s general account has been inactive for at least 6 years and contains no emission allowances, the Minister notifies the participant of the situation and of the fact that the Minister may, after 30 days, close the account and terminate the participant’s registration if no emission allowance is placed in the account during that period or if the participant provides no valid reason for maintaining the account.
