§ 97.623 - Recordation of CSAPR SO2 Group 1 allowance transfers.

§ 97.623 Recordation of CSAPR SO₂ Group 1 allowance transfers.

(a) Within 5 business days (except as provided in paragraph (b) of this section) of receiving a CSAPR SO₂ Group 1 allowance transfer that is correctly submitted under § 97.622, the Administrator will record a CSAPR SO₂ Group 1 allowance transfer by moving each CSAPR SO₂ Group 1 allowance from the transferor account to the transferee account as specified in the transfer.

(b) A CSAPR 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 CSAPR SO₂ Group 1 allowances allocated or auctioned 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 CSAPR 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 CSAPR 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 CSAPR 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.