N.J. Admin. Code § 7:27C-6.12

Current through Register Vol. 56, No. 24, December 18, 2024

Section 7:27C-6.12 - Closing of a general account

(a) A CO[2] authorized account representative of a general account may instruct the Department to close the account by submitting a statement requesting deletion of the account from COATS and by correctly submitting for recording under N.J.A.C. 7:27C-7.1, a CO[2] allowance transfer of all CO[2] allowances in the account to one or more other COATS accounts.

(b) If a general account shows NO[x] activity for a period of one year or more and does not contain any CO[2] allowances, the Department may notify the CO[2] authorized account representative that the account will be closed in COATS 30 business days after the notice is sent. The Department will close the account after the 30-day period, unless before the end of the 30-day period the Department receives a correctly submitted transfer of CO[2] allowances into the account under N.J.A.C. 7:27C-7.1, or a statement submitted by the CO[2] authorized account representative demonstrating to the satisfaction of the Department good cause as to why the account should not be closed. The Department will have sole discretion to determine if the owner or operator of the unit demonstrated that the account should not be closed.

Adopted by 51 N.J.R. 992(a), effective 6/17/2019