Non-application of holding limit
 41. (1) Subject to subsections (2) and (3), the limit established under section 40 does not apply during a time period set out in Column 1 of the following Table in respect of emission allowances and credits that are held in a capped participant’s compliance account during the period, up to and including the amount of emission allowances and credits that is equivalent to the amount of CO2e set out opposite the time period in Column 2 of the Table. TABLE Item   Column 1 Time period   Column 2 Amount of CO2e 

  1.   January 1, 2017 to December 31, 2017.   A2015 

  2.   January 1, 2018 to December 31, 2018   A2015 + A2016 

  3.   January 1, 2019 to December 31, 2019.   A2016 + (A2017 × 2) 

  4.   January 1, 2020 to December 31, 2020.   (A2017 × 2) + (A2018  × 2) 

  5.   January 1, 2021 to November 1, 2021.   A2017 + (A2018 × 2) + (A2019 × 2) 

  6.   November 2, 2021 to December 31, 2021.   A2019 

  7.   January 1, 2022 to December 31, 2022.   A2019 + A2020 (2) If an amount required for the purpose of determining a value referred to in Column 2 of the Table to subsection (1) cannot be obtained in respect of an activity, the amount is deemed to be, (a) the most recently obtained comparable amount in respect of the activity from a previous year of reporting under either the Act or the Environmental Protection Act; or (b) if no comparable amount can be obtained, the amount assigned by the Director. (3) For the purposes of clause (2) (b), a capped participant may apply to the Director for the Director to assign an amount. (4) For the purposes of determining an amount to assign under clause (2) (b), the Director shall consider the following information: 1. Any information available to the Ministry in respect of the activity, which may include an environmental compliance approval in respect of the activity. 2. Any information in respect of the activity obtained by the Director by requesting information from the capped participant. 3. Information in respect of similar activities engaged in by persons in Ontario or other jurisdictions. O. Reg. 144/16, s. 41 (4); O. Reg. 473/16, s. 16. (5) If the Director proposes to determine an amount under clause (2) (b), the Director shall give written notice to the applicant, setting out the following information: 1. The proposed amount. 2. An explanation of how the proposed amount was determined. 3. A statement that the participant may, no later than five days following the day the notice was given, submit comments in writing to the Director in respect of the proposed amount. (6) After considering any comments received from the applicant in respect of a proposed amount, the Director shall give written notice to the applicant of the amount determined under clause (2) (b). (7) The Director may increase a maximum amount determined under subsection (1) if a capped participant applies to the Director on or before October 1 in a year for the increase and demonstrates that the participant’s registered activities are likely to increase in the year of the application, such that the greenhouse gas emissions during the activities or associated with the activities are likely to increase by at least 250,000 tonnes from the previous year. (8) If the Director proposes to increase the maximum amount under subsection (7), the Director shall give written notice to the applicant, setting out the following information: 1. The proposed increase. 2. An explanation of how the proposed increase was determined. 3. A statement that the participant may, no later than five days following the day the notice was given, submit comments in writing to the Director in respect of the proposed increase. (9) After considering any comments received from the applicant in respect of a proposed increase, the Director shall give written notice to the applicant of the increase. (10) The amount of an increase under subsection (7) shall be determined by the Director based on the information available about the likely increase and shall apply until such time as the actual amount of the increase in respect of the activity is available to the Director. (11) Subject to subsection (12), a value referred to in Column 2 of the Table to subsection (1) must be the sum of all amounts that were set out in reports prepared under the Environmental Protection Act or GHG reports, as the case may be, in respect of which positive or qualified positive verification statements were issued or submitted in accordance with the applicable Act. (12) In the case of an amount required for the purpose of determining A2016, an amount set out in a 2016 EPA report may be included in the sum even if no positive or qualified positive verification statement was issued in respect of the report, if verification of the report was not required under section 26 of the 2016 EPA Regulation. (13) In this section, “A2015” means the sum of the amounts relating to the capped participant’s registered activities engaged in during 2015, as quantified under the 2015 EPA Regulation and, if applicable, as quantified as described in paragraph 3 of subsection 29 (1) of this Regulation; (“A2015”) “A2016” means the sum of the amounts relating to the capped participant’s registered activities engaged in during 2016, as quantified under paragraph 4 of subsection 7.3 (2) of the 2016 EPA Regulation and calculated under subsection 7.4 (1), (2) or (3) of the 2016 EPA Regulation;(“A2016”) “A2017” means the sum of, (a) all verification amounts calculated in respect of the capped participant’s registered activities engaged in during 2017, as quantified under the Reporting Regulation, and (b) all amounts of greenhouse gas emissions associated with the capped participant’s registered activities engaged in during 2017, as calculated under the Reporting Regulation; (“A2017”) “A2018” means the sum of, (a) all verification amounts calculated in respect of the capped participant’s registered activities engaged in during 2018, as quantified under the Reporting Regulation, and (b) all amounts of greenhouse gas emissions associated with the capped participant’s registered activities engaged in during 2018, as calculated under the Reporting Regulation; (“A2018”) “A2019” means the sum of, (a) all verification amounts calculated in respect of the capped participant’s registered activities engaged in during 2019, as quantified under the Reporting Regulation, and (b) all amounts of greenhouse gas emissions associated with the capped participant’s registered activities engaged in during 2019, as calculated under the Reporting Regulation; (“A2019”) “A2020” means the sum of, (a) all verification amounts calculated in respect of the capped participant’s registered activities engaged in during 2020, as quantified under the Reporting Regulation, and (b) all amounts of greenhouse gas emissions associated with the capped participant’s registered activities engaged in during 2020, as calculated under the Reporting Regulation; (“A2020”) “registered activities” means, when used in reference to a capped participant, the activities in respect of which the participant is registered. (“activités inscrites”)