§ 97.623Recordation of TR SO2 Group 1 allowance transfers.
(a) Within 5 business days (except as provided in paragraph (b) of this section) of receiving a TR SO2 Group 1 allowance transfer that is correctly submitted under § 97.622, the Administrator will record a TR SO2 Group 1 allowance transfer by moving each TR SO2 Group 1 allowance from the transferor account to the transferee account as specified in the transfer.
(b) A TR SO2 Group 1 allowance transfer to or from a compliance account that is submitted for recordation after the allowance transfer deadline for a control period and that includes any TR SO2 Group 1 allowances allocated for any control period before such allowance transfer deadline will not be recorded until after the Administrator completes the deductions from such compliance account under § 97.624 for the control period immediately before such allowance transfer deadline.
(c) Where a TR SO2 Group 1 allowance transfer is not correctly submitted under § 97.622, the Administrator will not record such transfer.
(d) Within 5 business days of recordation of a TR SO2 Group 1 allowance transfer under paragraphs (a) and (b) of the section, the Administrator will notify the authorized account representatives of both the transferor and transferee accounts.
(e) Within 10 business days of receipt of a TR SO2 Group 1 allowance transfer that is not correctly submitted under § 97.622, the Administrator will notify the authorized account representatives of both accounts subject to the transfer of:
(1) A decision not to record the transfer, and
(2) The reasons for such non-recordation.
Title 40 published on 2014-07-01
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