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Q-2, r. 46.1 - Regulation respecting a cap-and-trade system for greenhouse gas emission allowances
Section 38
Disposition versions
38. Based on the cap on emission units set by order in accordance with section 46.7 of the Environment Quality Act (chapter Q-2), the Minister places in the Minister’s reserve account a quantity of emission units that may be used in adjusting the allocation made without charge in accordance with Division II or may be sold by mutual agreement in accordance with Division IV of this Chapter.
The quantity of emission units represents
(1) 1% of the emission units available under the cap set for the years 2013 and 2014;
(2) 4% of the emission units available under the cap set for the years 2015 to 2017;
(3) 7% of the emission units available under the cap set for the years 2018 to 2020; and
(4) 4% of the emission units available under the cap set for the years 2021 and following.
The Minister places the unreserved emission units in the Minister’s allocation account. The units may be allocated without charge in accordance with Division II of this Chapter.
The emission units in excess of the total estimated quantities that may be allocated without charge for a given year are placed in the Minister’s auction account to be sold in accordance with Division III of this Chapter.
