New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 27C - CO[2] BUDGET TRADING PROGRAM
Subchapter 11 - CO[2] ALLOWANCE AUCTIONS
Section 7:27C-11.6 - Auction participant requirements
Universal Citation: NJ Admin Code 7:27C-11.6
Current through Register Vol. 56, No. 18, September 16, 2024
(a) To be classified by the Department as a bidder eligible to participate in a specific CO[2] allowance auction, a qualified participant must:
1. Be a member of a category of those eligible to participate in the specified CO[2] allowance action as indicated by the notice of CO[2] allowance auction issued pursuant to NJ.A.C. 7:27C-11.5(b);
2. Open and maintain a compliance account or general account, established pursuant to N.J.A.C. 7:27C-6.2 (a) or (b), respectively; and
3. Submit financial security, such as a bond, cash, certified funds, or an irrevocable stand-by letter of credit, in a manner and form acceptable to the Department, as specified in the notice of CO[2] allowance auction issued pursuant to N.J.A.C. 7:27C-11.5(b).
(b) Only one who meets the requirements at (a) above will be classified by the Department as a bidder and approved to participate in a specified CO[2] allowance auction.
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