46.12. The Minister may suspend, withdraw or cancel any emission allowance(1) if the emission allowance was granted, traded or used to cover emissions on the basis of false or inaccurate information;
(2) if this subdivision or a regulation of the Government under this subdivision has been contravened; or
(3) for any other reason determined by regulation of the Government.
However, the emitter concerned must be given prior notice of the Minister’s decision, including reasons, and at least 10 days to submit observations.
Despite the second paragraph, the Minister may suspend any emission allowance without giving prior notice to the person concerned if(1) there are reasonable grounds to believe that the integrity of the cap-and-trade system is threatened, in particular where the Minister ascertains that emission allowance transactions are irregular;
(2) the emitter does not meet its obligations as to the coverage of greenhouse gas emissions for a period prescribed by a regulation made under the first paragraph of section 46.6; or
(3) an entity with which an agreement has been entered into under section 46.14 notifies the Minister of a case referred to in subparagraph 1.
In the cases provided for in the third paragraph, the person to whom such a decision is notified may, within the time specified in the decision, submit observations to the Minister in order to obtain a review of the decision.
2009, c. 33, s. 1; 2013, c. 16, s. 174; 2017, c. 42017, c. 4, s. 781.