New York Codes, Rules and Regulations › Title 6 - DEPARTMENT OF ENVIRONMENTAL CONSERVATION › Chapter III - AIR RESOURCES › Subchapter A - PREVENTION AND CONTROL OF AIR CONTAMINATION AND AIR POLLUTION › Part 242 - CO[2] Budget Trading Program › Subpart 242-6 - CO[2] ALLOWANCE TRACKING SYSTEM › Section 242-6.2 - Establishment of accounts

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
					 'Compliance accounts'. Upon receipt of a complete account certificate of
					 representation under section
					 242-2.4 
					 of this Part, the department or its agent will establish a compliance account
					 for each CO2 budget source for which the account
					 certificate of representation was submitted.
(b) 'General accounts'.
(1) 'Application for general account'. Any
					 person may apply to open a general account for the purpose of holding and
					 transferring CO2 allowances. An application for a
					 general account may designate one and only one CO2
					 authorized account representative and one and only one
					 CO2 authorized alternate account representative who may
					 act on behalf of the CO2 authorized account
					 representative. The agreement by which the CO2
					 authorized alternate account representative is selected shall include a
					 procedure for authorizing the CO2 authorized alternate
					 account representative to act in lieu of the CO2
					 authorized account representative. A complete application for a general account
					 shall be submitted to the department or its agent and shall include the
					 following elements in a format prescribed by the department or its agent:
(i) name, address, e-mail address, and
					 telephone number of the CO2 authorized account
					 representative and any CO2 authorized alternate account
					 representative;
(ii) at the option
					 of the CO2 authorized account representative,
					 organization name and type of organization;
(iii) a list of all persons subject to a
					 binding agreement for the CO2 authorized account
					 representative or any CO2 authorized alternate account
					 representative to represent their ownership interest with respect to the
					 CO2 allowances held in the general account;
(iv) the following certification statement by
					 the CO2 authorized account representative and any
					 CO2 authorized alternate account representative: "I
					 certify that I was selected as the CO2 authorized
					 account representative or the CO2 authorized alternate
					 account representative, as applicable, by an agreement that is binding on all
					 persons who have an ownership interest with respect to
					 CO2 allowances held in the general account. I certify
					 that I have all the necessary authority to carry out my duties and
					 responsibilities under the CO2 Budget Trading Program on
					 behalf of such persons and that each such person shall be fully bound by my
					 representations, actions, inactions, or submissions and by any order or
					 decision issued to me by the department or its agent or a court regarding the
					 general account.";
(v) the
					 signature of the CO2 authorized account representative
					 and any CO2 authorized alternate account representative
					 and the dates signed; and
(vi)
					 unless otherwise required by the department or its agent, documents of
					 agreement referred to in the application for a general account shall not be
					 submitted to the department or its agent. Neither the department nor its agent
					 shall be under any obligation to review or evaluate the sufficiency of such
					 documents, if submitted.