Section 77.5 - Deduction of allowances to offset excess emissions of sulfur dioxide(a) The Administrator will deduct allowances to offset excess emissions in accordance with the offset plan approved under § 77.4(b) (1) or (k) or in accordance with § 72.91(b) of this chapter.(b) The designated representative shall hold enough allowances in the appropriate compliance account to cover the deductions to be made in accordance with paragraph (a) or paragraph (c) of this section.(c) If the designated representative does not submit a timely and complete proposed offset plan, or if the Administrator disapproves a proposed offset plan under § 77.4 (c) or (k) , the Administrator will immediately deduct allowances allocated for the year after the year in which the source has excess emissions, from the source's compliance account on a first-in, first-out basis in accordance with § 73.35(c)(2) of this chapter, equal to the amount of the source's excess emissions of sulfur dioxide.58 FR 3757, Jan. 11, 1993, as amended at 70 FR 25337, May 12, 2005