40 CFR § 68.50 - Hazard review.
(a) The owner or operator shall conduct a review of the hazards associated with the regulated substances, process, and procedures. The review shall identify the following:
(1) The hazards associated with the process and regulated substances;
(2) Opportunities for equipment malfunctions or human errors that could cause an accidental release;
(3) The safeguards used or needed to control the hazards or prevent equipment malfunction or human error; and
(4) Any steps used or needed to detect or monitor releases.
(b) The owner or operator may use checklists developed by persons or organizations knowledgeable about the process and equipment as a guide to conducting the review. For processes designed to meet industry standards or Federal or state design rules, the hazard review shall, by inspecting all equipment, determine whether the process is designed, fabricated, and operated in accordance with the applicable standards or rules.
(c) The owner or operator shall document the results of the review and ensure that problems identified are resolved in a timely manner.
(d) The review shall be updated at least once every five years. The owner or operator shall also conduct reviews whenever a major change in the process occurs; all issues identified in the review shall be resolved before startup of the changed process.