Section 570. Closing of general accounts

A. The NO_x authorized account representative of a general account may instruct the administrator to close the account by submitting a statement requesting deletion of the account from the NO_x Allowance Tracking System and by correctly submitting for recordation under 9VAC5-140-600 an allowance transfer of all NO_x allowances in the account to one or more other NO_x Allowance Tracking System accounts.

B. If a general account shows no activity for a period of a year or more and does not contain any NO_x allowances, the administrator may notify the NO_x authorized account representative for the account that the account will be closed and deleted from the NO_x Allowance Tracking System following 20 business days after the notice is sent. The account will be closed after the 20-day period unless before the end of the 20-day period the administrator receives a correctly submitted transfer of NO_x allowances into the account under 9VAC5-140-600 or a statement submitted by the NO_x authorized account representative demonstrating to the satisfaction of the administrator good cause as to why the account should not be closed.

Historical Notes

Derived from Volume 18, Issue 20, eff. July 17, 2002.

Statutory Authority

§§ 10.1-1308 and 10.1-1322.3 of the Code of Virginia.