Section 326IAC24-2-9. CAIR SO2 allowance transfers

   (a) A CAIR authorized account representative seeking recordation of a CAIR SO₂ allowance transfer shall submit the transfer to the U.S. EPA. To be considered correctly submitted, the CAIR SO₂ allowance transfer shall include the following elements, in a format specified by the U.S. EPA:

(1) the account numbers for both the transferor and transferee accounts;

(2) the serial number of each CAIR SO₂ allowance that is in the transferor account and is to be transferred; and

(3) the name and signature of the CAIR authorized account representative of the transferor account and the date signed.

  (b) The CAIR authorized account representative for the transferee account shall meet the requirements in subsection (a)(3) by submitting, in a format prescribed by the U.S. EPA, a statement signed by the CAIR authorized account representative and identifying each account into which any transfer of allowances, submitted on or after the date on which the U.S. EPA receives such statement, is authorized. Such authorization shall be binding on any CAIR authorized account representative for such account and shall apply to all transfers into the account that are submitted on or after such date of receipt, unless and until the U.S. EPA receives a statement signed by the CAIR authorized account representative retracting the authorization for the account.

  (c) The statement under subsection (b) shall include the following: "By this signature I authorize any transfer of allowances into each account listed herein, except that I do not waive any remedies under state or federal law to obtain correction of any erroneous transfers into such accounts. This authorization shall be binding on any CAIR authorized account representative for such account unless and until a statement signed by the CAIR authorized account representative retracting this authorization for the account is received by the U.S. EPA.".

  (d) Within five (5) business days, except as provided in subsection (e), of receiving a CAIR SO₂ allowance transfer, the U.S. EPA will record a CAIR SO₂ allowance transfer by moving each CAIR SO₂ allowance from the transferor account to the transferee account as specified by the request, provided the following:

(1) The transfer is correctly submitted under this section.

(2) The transferor account includes each CAIR SO₂ allowance identified by serial number in the transfer.

(3) The transfer is in accordance with the limitation on transfer under 40 CFR 74.42* and 40 CFR 74.47(c)*, as applicable.

  (e) A CAIR SO₂ allowance transfer that is submitted for recordation after the allowance transfer deadline for a control period and that includes any CAIR SO₂ allowances allocated for any control period before such allowance transfer deadline will not be recorded until after the U.S. EPA completes the deductions under subsections (j) and (k) for the control period immediately before such allowance transfer deadline.

  (f) Where a CAIR SO₂ allowance transfer submitted for recordation fails to meet the requirements of subsection (d), the U.S. EPA will not record such transfer.

  (g) The following notification requirements shall apply to CAIR SO₂ allowance transfers:

(1) Within five (5) business days of recordation of a CAIR SO₂ allowance transfer under subsections (d) through (f) the U.S. EPA will notify the CAIR authorized account representatives of both the transferor and transferee accounts.

(2) Within ten (10) business days of receipt of a CAIR SO₂ allowance transfer that fails to meet the requirements of subsection (d), the U.S. EPA will notify the CAIR authorized account representatives of both accounts subject to the transfer of the decision not to record the transfer and the reasons for such nonrecordation.

  (h) Nothing in this section shall preclude the submission of a CAIR SO₂ allowance transfer for recordation following notification of nonrecordation.

  *These documents are incorporated by reference. Copies may be obtained from the Government Printing Office, 732 North Capitol Street NW, Washington, D.C. 20401 or are available for review and copying at the Indiana Department of Environmental Management, Office of Air Quality, Indiana Government Center-North, Tenth Floor, 100 North Senate Avenue, Indianapolis, Indiana 46204. (Air Pollution Control Division; 326 IAC 24-2-9; filed Jan 26, 2007, 10:25 a.m.: 20070221-IR-326050117FRA)