N.Y. Comp. Codes R. & Regs. Tit. 6 §§ 242-7.2

Current through Register Vol. 46, No. 45, November 2, 2024

Section 242-7.2 - Recordation

(a) Within five business days of receiving a CO₂ allowance transfer, except as provided in subdivision (b) of this section, the department or its agent will record a CO₂ allowance transfer by moving each CO₂ allowance from the transferor account to the transferee account as specified by the request, provided that:

(1) the transfer is correctly submitted under section 242-7.1 of this Subpart; and

(2) the transferor account includes each CO₂ allowance identified by serial number in the transfer.

(b) A CO₂ allowance transfer into or out of a compliance account that is submitted for recordation following the CO₂ allowance transfer deadline and that includes any CO₂ allowances that are of allocation years that fall within a control period or interim control period prior to or the same as the control period or interim control period to which the CO₂ allowance transfer deadline applies will not be recorded until after completion of the process pursuant to section 242-6.5 of this Part.

(c) Where a CO₂ allowance transfer submitted for recordation fails to meet the requirements of subdivision (a) of this section, the department or its agent will not record such transfer.

N.Y. Comp. Codes R. & Regs. Tit. 6 §§ 242-7.2

Amended New York State Register December 16, 2020/Volume XLII, Issue 50, eff. 12/31/2020