Code of Maryland Regulations › Title 26 - DEPARTMENT OF ENVIRONMENT › Part 2 - SUBTITLES 08-12 › Subtitle 09 - MARYLAND CO[2] BUDGET TRADING PROGRAM › Chapter 26.09.04 - Auctions › Section 26.09.04.09 - Participation Requirements

Current through Register Vol. 51, No. 14, July 12, 2024
A.
				  Qualification.
(1) Any party wishing to
				  participate in an auction shall open and maintain a compliance or general
				  account as described in COMAR 26.09.01.
(2) Any party wishing to participate in an
				  auction shall be qualified by the Department.
(3) Only those bidders found qualified
				  through the qualification application process will be permitted to submit a bid
				  or bids or otherwise participate in bidding in any auction.
(4) As part of the qualification application,
				  bidders shall be required to provide information and documentation relating to
				  the bidder's ability and authority to execute bids and honor contractual
				  obligations, which includes, but is not limited to, the following:
(a) Information and documentation regarding
				  the corporate identity, ownership, and capital structure of the
				  bidder;
(b) Audited annual reports
				  and credit reports;
(c)
				  Identification of any indictment or felony conviction of the bidder, or of any
				  member, director, principal, partner, or officer of the bidder or any affiliate
				  or related entity; and
(d) A
				  statement by the bidder identifying prior findings of nonresponsibility with
				  regard to any Maryland procurement.
(5) Any party wishing to participate in an
				  auction shall submit a qualification application to the Department on or before
				  the qualification application deadline date specified in the notice, that is
				  not sooner than 15 days following the date of publication of the
				  notice.
(6) Qualification
				  application information and forms shall be made available electronically on the
				  CO2 allowance auction website.
(7) The Department shall review each
				  qualification application and make a determination as to the qualifications of
				  each applicant to submit bids in the auction. The following shall apply:
(a) Failure to provide any information
				  required by the notice or this chapter may result in the qualification
				  application being declared incomplete or otherwise deficient;
(b) All prospective bidders shall be notified
				  in writing of the Department's determination not later than 15 days before the
				  date upon which the auction may be conducted;
(c) If a qualification application is
				  determined to be incomplete or otherwise deficient, the Department shall notify
				  the prospective bidder and state the reason; and
(d) Prospective bidders whose qualification
				  applications have been determined to be incomplete or deficient shall be given
				  not less than 10 business days to provide additional information and address
				  the deficiencies.
(8)
				  Bidders found qualified for participation shall be qualified for all subsequent
				  auctions and shall be eligible to bid in the auctions if:
(a) The bidders maintain compliance with the
				  financial security requirements;
(b) There is no material change to the
				  information provided in the qualification step; and
(c) The applicant remains within one of the
				  categories of eligible bidders described in the notice for the
				  auction.
(9) The bidder
				  shall notify the Department of any change in the information provided in the
				  qualification application not later than 5 days following the end of the month
				  during which the change occurred. The notification shall include the date the
				  change occurred and a description of the change with sufficient detail to
				  enable the Department to determine whether the change is material.