Sulphur dioxide allowances for renewable energy and conservation projects
 15. (1) A person may apply to the Director for sulphur dioxide emission allowances in connection with a renewable energy project or conservation project.  O. Reg. 397/01, s. 15 (1). (2) The application must be made not later than September 1 in a year after 2001.  O. Reg. 397/01, s. 15 (2). (3) The Director shall determine all applications made in a year not later than November 1 in the year.  O. Reg. 397/01, s. 15 (3). (4) Subject to subsections (5) and (6), the Director shall determine the applications in accordance with the Ontario Emissions Trading Code and shall award successful applicants with the amount of sulphur dioxide emission allowances determined in accordance with the Code. O. Reg. 397/01, s. 15 (4). (5) The total amount of sulphur dioxide emission allowances that may be awarded by the Director under subsection (4) in a year must not exceed 4.0 kilotonnes.  O. Reg. 397/01, s. 15 (5). (6) If the total amount of sulphur dioxide emission allowances that would be awarded by the Director under subsection (4) in a year, determined in accordance with the Ontario Emissions Trading Code, would exceed 4.0 kilotonnes, the Director shall instead award each successful applicant with an amount of sulphur dioxide emission allowances determined in accordance with the following formula: (A ÷ B) × 4.0 kilotonnes where, A = the amount of sulphur dioxide emission allowances that would have been awarded to the successful applicant if that amount had been determined in accordance with the Ontario Emissions Trading Code, B = the total amount of sulphur dioxide emission allowances that would have been awarded to all successful applicants if that amount had been determined in accordance with the Ontario Emissions Trading Code. O. Reg. 397/01, s. 15 (6). (7) If the Director awards a person with sulphur dioxide emission allowances under subsection (4) or (6) in a year, (a) the Director shall, not later than November 1 of the year, send written notice of the amount awarded to the person and to the operator of the Registry; and (b) on December 1 of the year, the person shall be deemed to have acquired the sulphur dioxide emission allowances awarded by the Director.  O. Reg. 397/01, s. 15 (7). (8) If, in 2002 or 2003, no sulphur dioxide emission allowances are awarded by the Director under subsection (6) and the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4) is less than 4.0 kilotonnes, Ontario Power Generation Inc. shall be deemed, on December 1 of the year, to have acquired sulphur dioxide emission allowances in respect of the combined sulphur dioxide facilities in an amount equal to 4.0 kilotonnes less the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4).  O. Reg. 397/01, s. 15 (8). (9) If, in 2004, 2005, 2006 or 2007, no sulphur dioxide emission allowances are awarded by the Director under subsection (6) and the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4) is less than 4.0 kilotonnes, each owner of an independent sulphur dioxide facility who acquired sulphur dioxide emission allowances in respect of the facility on January 1 of the year under section 14 shall be deemed, on December 1 of the year, to have acquired sulphur dioxide emission allowances in respect of the facility in an amount determined in accordance with the following formula: (A ÷ B) × (4.0 kilotonnes – C) where, A = the amount of sulphur dioxide emission allowances acquired in respect of the facility on January 1 of the year under section 14, B = 153.5 kilotonnes, if the year is 2004, 2005 or 2006, or 127.0 kilotonnes, if the year is 2007, C = the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4). O. Reg. 397/01, s. 15 (9). (10) If, in 2004, 2005, 2006 or 2007, no sulphur dioxide emission allowances are awarded by the Director under subsection (6), the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4) is less than 4.0 kilotonnes, and Ontario Power Generation Inc. acquired sulphur dioxide emission allowances on January 1 of the year under section 14 in respect of one or more combined sulphur dioxide facilities, Ontario Power Generation Inc. shall be deemed, on December 1 of the year, to have acquired sulphur dioxide emission allowances in respect of those facilities in an amount determined in accordance with the following formula: (A ÷ B) × (4.0 kilotonnes – C) where, A = the amount of sulphur dioxide emission allowances acquired by Ontario Power Generation Inc. in respect of combined sulphur dioxide facilities on January 1 of the year under section 14, B = 153.5 kilotonnes, if the year is 2004, 2005 or 2006, or 127.0 kilotonnes, if the year is 2007, C = the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4). O. Reg. 397/01, s. 15 (10). (11) If, in 2008 or a later year, no sulphur dioxide emission allowances are awarded by the Director under subsection (6) and the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4) is less than 4.0 kilotonnes, each person who acquired sulphur dioxide emission allowances in respect of a generation facility on January 1 of the year under section 14 shall be deemed, on December 1 of the year, to have acquired sulphur dioxide emission allowances in respect of the facility in an amount determined in accordance with the following formula: (A ÷ 127.0 kilotonnes) × (4.0 kilotonnes – B) where, A = the amount of sulphur dioxide emission allowances acquired in respect of the facility on January 1 of the year under section 14, B = the total amount of sulphur dioxide emission allowances awarded by the Director under subsection (4). O. Reg. 397/01, s. 15 (11). Recording of Emission Allowances