Source: https://www.law.cornell.edu/cfr/text/40/97.620
Timestamp: 2020-08-15 15:07:32
Document Index: 546260820

Matched Legal Cases: ['§ 97', '§ 97', '§ 97', '§ 97', '§ 97', '§ 97', '§ 97', '§ 97']

40 CFR § 97.620 - Establishment of compliance accounts, assurance accounts, and general accounts. | CFR | US Law | LII / Legal Information Institute
Section 97.620. Establishment of compliance accounts, assurance accounts, and general accounts.
40 CFR § 97.620 - Establishment of compliance accounts, assurance accounts, and general accounts.
§ 97.620 Establishment of compliance accounts, assurance accounts, and general accounts.
(a) Compliance accounts. Upon receipt of a complete certificate of representation under § 97.616, the Administrator will establish a compliance account for the CSAPR SO2 Group 1 source for which the certificate of representation was submitted, unless the source already has a compliance account. The designated representative and any alternate designated representative of the source shall be the authorized account representative and the alternate authorized account representative respectively of the compliance account.
(b) Assurance accounts. The Administrator will establish assurance accounts for certain owners and operators and States in accordance with § 97.625(b)(3).
(i) Any person may apply to open a general account, for the purpose of holding and transferring CSAPR SO2 Group 1 allowances, by submitting to the Administrator a complete application for a general account. Such application shall designate one and only one authorized account representative and may designate one and only one alternate authorized account representative who may act on behalf of the authorized account representative.
(i) The authorized account representative of a general account may be changed at any time upon receipt by the Administrator of a superseding complete application for a general account under paragraph (c)(1) of this section. Notwithstanding any such change, all representations, actions, inactions, and submissions by the previous authorized account representative before the time and date when the Administrator receives the superseding application for a general account shall be binding on the new authorized account representative and the persons with an ownership interest with respect to the CSAPR SO2 Group 1 allowances in the general account.
(A) In the event a person having an ownership interest with respect to CSAPR SO2 Group 1 allowances in the general account is not included in the list of such persons in the application for a general account, such person shall be deemed to be subject to and bound by the application for a general account, the representation, actions, inactions, and submissions of the authorized account representative and any alternate authorized account representative of the account, and the decisions and orders of the Administrator, as if the person were included in such list.
(i) The authorized account representative or alternate authorized account representative of a general account may submit to the Administrator a request to close the account. Such request shall include a correctly submitted CSAPR SO2 Group 1 allowance transfer under § 97.622 for any CSAPR SO2 Group 1 allowances in the account to one or more other Allowance Management System accounts.
(ii) If a general account has no CSAPR SO2 Group 1 allowance transfers to or from the account for a 12-month period or longer and does not contain any CSAPR SO2 Group 1 allowances, the Administrator may notify the authorized account representative for the account that the account will be closed after 30 days after the notice is sent. The account will be closed after the 30-day period unless, before the end of the 30-day period, the Administrator receives a correctly submitted CSAPR SO2 Group 1 allowance transfer under § 97.622 to the account or a statement submitted by the authorized account representative or alternate authorized account representative demonstrating to the satisfaction of the Administrator good cause as to why the account should not be closed.
(e) Responsibilities of authorized account representative and alternate authorized account representative. After the establishment of a compliance account or general account, the Administrator will accept or act on a submission pertaining to the account, including, but not limited to, submissions concerning the deduction or transfer of CSAPR SO2 Group 1 allowances in the account, only if the submission has been made, signed, and certified in accordance with §§ 97.614(a) and 97.618 or paragraphs (c)(2)(ii) and (c)(5) of this section.