78 (1) The Lieutenant Governor in Council may make regulations in respect of the following matters: 1. Governing anything that is required or permitted to be prescribed or that is required or permitted to be done by, or in accordance with, the regulations or as authorized, specified or provided in the regulations.  This does not apply with respect to section 57 (administrative penalties). 2. Defining, for the purposes of a regulation, words and expressions used in this Act that are not defined in the Act. 3. Governing the quantification and calculation of amounts of greenhouse gas emissions and governing the attribution of emissions. 4. Governing the registration of persons, including the suspension and cancellation of a registration, and governing the conditions applicable to registrants. 5. Governing the recognition and designation of account agents, including the suspension and cancellation of a recognition, and governing the conditions applicable to designated account agents. 6. Governing the purchase, sale, trade and other dealings with emission allowances and credits by registered participants, and prescribing jurisdictions other than Ontario for the purposes of subsection 21 (4). 7. Governing cap and trade accounts, including the closing of accounts, and governing transfers between accounts and the removal of emission allowances and credits from accounts. 8. Governing the creation, distribution, retirement from circulation and cancellation of Ontario emission allowances and the retirement of other emission allowances from circulation. 9. Governing the creation, issuance, retirement from circulation and cancellation of Ontario credits and the retirement of other credits from circulation. 10. Governing the registration of offset initiatives, including the imposition of requirements on sponsors of offset initiatives. 11. Governing monitoring, reporting and verification requirements under this Act and imposing duties on persons who are authorized under this Act to conduct verifications. 12. Governing the retention of records in the possession of persons who prepare or submit or who are required to prepare or submit records for the purposes of this Act. 13. Authorizing the Director to extend any deadline or period of time established under this Act in such circumstances as may be prescribed or in such circumstances as the Director considers appropriate, whether or not the deadline has passed or the period has expired. 14. Providing for such other matters as the Lieutenant Governor in Council considers advisable to carry out the purpose of this Act. Exemptions (2) A regulation may exempt a person or class of persons from a specified requirement imposed by this Act or a regulation made under this section in such circumstances as may be prescribed and subject to such conditions as may be prescribed or may provide that a specified provision of this Act or a regulation made under this section does not apply to the person or class in such circumstances as may be prescribed and subject to such conditions as may be prescribed. Incorporation by reference (3) A regulation may incorporate, in whole or in part and with such changes as the Lieutenant Governor in Council considers necessary, a document, including a code, formula, standard, protocol, procedure or guideline, as the document may be amended or remade. Same (4) An amendment to a document referred to in subsection (3), or a document referred to in subsection (3) as remade, comes into effect upon the Ministry publishing notice of the amendment or remade document in The Ontario Gazette or in the registry under the Environmental Bill of Rights, 1993. Conflict with Statutory Powers Procedure Act (5) A regulation may provide that it prevails over a provision of the Statutory Powers Procedure Act, despite anything in that Act.