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Cap-and-Trade Program Regulations

made under Section 112Q of the

Environment Act

S.N.S. 1994-95, c. 1

O.I.C. 2018-294 (effective November 13, 2018), N.S. Reg. 194/2018

amended to O.I.C. 2023-246 (effective September 12, 2023), N.S. Reg. 160/2023



Table of Contents


Please note: this table of contents is provided for convenience of reference and does not form part of the regulations.
Click here to go to the text of the regulations.

 

Interpretation

Citation

Definitions

Definition of “business relationship” and “related persons”

Cap-and-Trade Program

Establishment of cap-and-trade program

Green Fund Manager designated

Emitters exempt from program

Registration in Program

Deadlines for registering in program

Registration of new owner or operator of facility

Content of application to register

Attribution of Greenhouse Gas Emissions to Program Participants

Attribution of emissions—specified GHG activities at facility

Attribution of emissions—specified GHG activities for fuel supplier emitters

Attribution amount determined by Minister

Submitting Emission Allowances

Compliance period

Time period for which emission allowances required to be submitted

Deadline for submitting emission allowances for compliance period

Submitting emission allowances

Transfer of emission allowances required to be submitted

Transfer of emission allowances after deadline

Cap-and-Trade Accounts

Administrative accounts

Program participant accounts

Minister’s correction of material errors in accounts

Holding limit for general and compliance accounts

Holding limit for related persons

When holding limit exceeded

Surrendering emission allowances on permanently ceasing specified GHG activities

Closure of program participant’s accounts

Closure of program participants’ accounts after Section 14 deadline

Account Agents

Recognized account agents

Eligibility for recognized account agent

Contents of application for recognized account agent

Updated or additional information for recognized account agent

Cancellation of account agent recognition

Program participant to designate recognized account agents

Powers and duties of account representative

Powers of account viewing agent

Termination of account agent designation

Suspension and reinstatement of authority to deal with accounts

Emission Allowance Transactions

General restrictions on emission allowances transactions

Minister to transfer upon receiving transfer request

Additional information about transfer of emission allowances to Minister on request

Transferring emission allowances between program participants

NSPI not eligible to transfer emission allowances

Transfers between compliance accounts—new facility owner or operator

Transfers from program participant’s general account to compliance account or limited use holding account

Annual publication of transactions summary

Prohibitions on use of non-public information in dealing with emission allowances

Misleading or untrue statements

Misleading or untrue information

Creation and Allocation of Emission Allowances to Administrative Accounts

Creation of emission allowances

Issuance account

Reserve account

Allocation account

Auction account

Allocation of Emission Allowances Without Charge

Calculation of initial allocation of emission allowances without charge to facility emitters, other than NSPI

Initial allocation of emission allowances without charge to facility emitters

Calculation of remaining allocation of emission allowances without charge to facility emitters

Allocation of remaining emission allowances to facility emitters

Surrendering excess emission allowances from initial allocation

Allocation of emission allowances without charge to NSPI

Calculation and allocation of emission allowances without charge to fuel supplier emitters

Revised GHG reports—adjustment of allocation

Suspension of allocation of emission allowances without charge

Auctions and Sales by Agreement

Number of auctions and sales by agreement per year

Minister’s notice of auction or sale of agreement

Registration with Minister as a bidder or purchaser

Restriction on services of an advisor at auction or sale by agreement

Prohibition on disclosing information about auction or sale by agreement participation

Refusal to permit participation in auction or sale by agreement

Financial guarantee for auction or sale by agreement

Auction of Emission Allowances

Sale of emission allowances by consignment at auction

NSPI not eligible to sell emission allowances by consignment

Program participants eligible to participate in auction

Auctioning of emission allowances

Composition of lots of emission allowances available for auction

Minimum price of emission allowances at an auction

Program participant’s bids at auction

Calculation of maximum bid value of program participant’s bids at auction

Limit on total amount of emission allowances purchased at auction

Purchase of outstanding emission obligations at auctions

Rejection of program participant’s bids that exceed holding or purchase limits

Removal of lots from program participant’s bids if over financial guarantee

Awarding emission allowances at auction

Final sale price per emission allowance

Dividing emission allowances amongst lowest price bidders

Sale by Agreement

Program participants eligible to purchase emission allowances at sale by agreement

Sale price of emission allowances at sale by agreement

Selling of emission allowances by sale by agreement

Composition of lots of emission allowances available for sale by agreement

Program participant’s offers at sale by agreement

Rejection of program participant’s offers that exceed holding limit or financial guarantee

Sale of emission allowances when available allowances equal to or exceed offers

Sale of emission allowances when offers exceed available allowances

Post-auction and Post-sale by Agreement

Payment of amount owing for emission allowances purchased

Transferring emission allowances purchased at auction or sale by agreement

Unsold emission allowances after auction or sale by agreement

Publication of summary of auction or sale by agreement

Information, Records and Forms

GHG Registry information

Retention of records

Form and manner of records and required information submitted


Schedule 1—Calculation of Allocation of Emissions Allowances Without Charge to Facility Emitters Other than NSPI

Formulas

Formula 1.1—estimated base number of emission allowances

Formula 1.2—historical facility production intensity benchmark

Formula 2.1—initial emission allowances allocated

Formula 2.2—cap adjustment factor with adjustment for biomass fuel use

Formula 2.3—adjustment for biomass fuel use

Formula 3.1—remaining allocation of emission allowances

Formula 3.2.1

Formula 3.2.2

Supporting Tables

Table 1—Historical facility emissions intensity for product produced/process parameter

Table 2—Cap adjustment factor without adjustment for biomass fuel use (Cct)



 


Interpretation


Citation

1        These regulations may be cited as the Cap-and-Trade Program Regulations.


Definitions

2        (1)    In these regulations,

 

“account agent” means a recognized account agent who is designated as either an account representative or an account viewing agent;

 

“account representative” means a recognized account agent who is designated as a primary account representative or an alternate account representative under subsection 30(1) to perform the duties in Section 31;

 

“account viewing agent” means a recognized account agent who is designated as an account viewing agent under subsection 30(3) to perform the duties in Section 32;

 

“Act” means the Environment Act;

 

“administrative accounts” means the administrative accounts for the Minister’s use in the program, as set out in Section 17;

 

“allocation account” means the administrative allocation account for the program, as described in Section 17;

 

“auction account” means the administrative auction account for the program, as described in Section 17;

 

“cancellation account” means the administrative cancellation account for the program, as described in Section 17;

 

“compliance account” means a program participant’s compliance account as described in Section 18;

 

“Consumer Price Index” means the all-items Consumer Price Index for Nova Scotia, not seasonally adjusted, published by Statistics Canada under the authority of the Statistics Act (Canada);

 

“financial guarantee” means the financial guarantee submitted for an auction or sale by agreement under Section 65;

 

“general account” means a program participant’s general cap-and-trade account, as described in Section 18;

 

“issuance account” means the administrative issuance account for the program, as described in Section 17;

 

“limited use holding account” means a program participant’s limited use holding account, as described in Section 18;

 

“maximum bid value” in respect of an auction, means the maximum bid value, as described in Section 72;

 

“NSPI” means Nova Scotia Power Incorporated;

 

“program” means the greenhouse gas emissions cap-and-trade program established by Section 4 under Section 112C of the Act;

 

“program participant” means an emitter registered in the program;

 

“QRV Regulations” means the Quantification, Reporting and Verification Regulations made under the Act;

 

“recognized account agent” means an individual recognized by the Minister under Section 25, and eligible to be designated as an account agent by a program participant under Section 30;

 

“required to be submitted” means, in relation to emission allowances, required to be submitted to the Minister under subsection 112D(1) of the Act and in accordance with these regulations;

 

“reserve account” means the administrative reserve account for the program, as described in Section 17;

 

“retirement account” means the administrative retirement account for the program, as described in Section 17;

 

“vintage” means, in relation to an emission allowance, the year for which the emission allowance is created.

 

          (2)    A term defined in Section 2 or 3 of the QRV Regulations has the same meaning when used in these regulations.


Definition of “business relationship” and “related persons”

3        (1)    In these regulations,

 

“business relationship” means, when used in reference to 2 persons, that the persons have 1 of the following types of relationship, either directly or indirectly:

 

                              (i)      1 person owns more than 20% of the securities of the other person or holds a call, option or other right or obligation to acquire those securities,

 

                              (ii)     1 person shares more than 20% of their officers or directors with the other person or may appoint up to 20% of the officers or directors of the other person,

 

                              (iii)    1 person owns voting securities carrying more than 20% of the voting rights attached to all voting securities in the other person,

 

                              (iv)    if 1 person is a partnership other than a limited partnership, the other person holds more than 20% of the interests in the partnership,

 

                              (v)     if 1 person is a limited partnership, the other person is a general partner of the partnership,

 

                              (vi)    both persons are members of a group that meets 1 of the following descriptions:

 

                                        (A)   the group consists of a person and that person’s subsidiaries,

 

                                        (B)   the group consists of all of the following:

 

                                                 (I)     a person who controls other persons as described in subclause (v),

 

                                                 (II)   the controlled persons,

 

                              (vii)   1 person controls more than 20% of the other person by any means.

 

          (2)    In these regulations, 2 persons are “related persons” if their relationship meets 1 of the following descriptions:

 

                   (a)      a single individual acts as an account representative for both persons and is an employee of at least 1 of the persons;

 

                   (b)     they are in a business relationship as described in subclause (i) of the definition of “business relationship” in subsection (1) and 1 person owns more than 50% of the securities of the other person or holds a call, option or other right or obligation to acquire those securities;

 

                   (c)      they are in a business relationship as described in subclause (ii) of the definition of “business relationship” in subsection (1) and 1 person shares more than 50% of their officers or directors with the other person or may appoint up to 50% of the officers or directors of the other person;

 

                   (d)     they are in a business relationship as described in subclause (iii) of the definition of “business relationship” in subsection (1) and 1 person owns voting securities carrying more than 50% of the voting rights attached to all voting securities in the other person;

 

                   (e)      they are in a business relationship as described in subclause (iv) of the definition of “business relationship” in subsection (1) and 1 person holds more than 50% of the interests in the partnership;

 

                   (f)      they are in a business relationship as described in subclause (v) or (vi) of the definition of “business relationship” in subsection (1);

 

                   (g)     1 person controls more than 50% of the other person by any means.

 

          (3)    If 2 persons are related persons under subsection (2), they are each related to any person to whom the other is related.

 

          (4)    In these regulations, a person is a subsidiary of a 2nd person if the 1st person is controlled, as described in subsection (6), by any of the following:

 

                   (a)      the 2nd person;

 

                   (b)     the 2nd person and 1 or more other persons, each of whom is controlled as described in subsection (6) by the 2nd person;

 

                   (c)      2 or more other persons, each of whom is controlled as described in subsection (6) by the 2nd person.

 

          (5)    In these regulations, if a 1st person is a subsidiary of a 2nd person and the 2nd person is a subsidiary of a 3rd person, then the 1st person is also a subsidiary of the 3rd person.

 

          (6)    For the purposes of subsection (4), a person is controlled by another person if

 

                   (a)      the 2nd person has direct or indirect influence over the voting securities of the 1st person, other than voting securities to secure an obligation, and, if that influence were exercised, the 2nd person would be entitled to elect a majority of directors of the 1st person;

 

                   (b)     for a partnership other than a limited partnership, the 2nd person holds more than 50% of the interests in the partnership; or

 

                   (c)      for a limited partnership, the 2nd person is the general partner.


Cap-and-Trade Program


Establishment of cap-and-trade program

4        A greenhouse gas emissions cap-and-trade program is hereby established under Section 112C of the Act.


Green Fund Manager designated

4A     The Executive Director of Climate Change is designated as the Green Fund Manager.



Emitters exempt from program

5        (1)    An emitter is not required or permitted to register in the program if

 

                   (a)      the emitter is not required to submit a verification statement for a GHG report under the QRV Regulations; or

 

                   (b)     despite clause (a), for a GHG report for their 2017 emissions, the verification amount in the report would not have met the verification threshold under QRV Regulations in force as of the effective date of these regulations.

 

          (2)    An emitter who ceases to engage in specified GHG activities permanently on or before the following dates is not required or permitted to register in the program:

 

                   (a)      the registration date in clause 6(b); or

 

                   (b)     for an emitter required to register by the deadline in clause 6(a), December 31, 2018.


Registration in Program


Deadlines for registering in program

6        Except as provided in Section 7, an emitter must apply to the Minister to register in the program on or before 1 of the following dates:

 

                   (a)      March 31, 2019, if the verification amount in the emitter’s GHG report for 2017 emissions meets the verification threshold;

 

                   (b)     October 1 immediately after the emitter submits their 1st GHG report in which the verification amount meets the verification threshold for emissions any year after 2017.


Registration of new owner or operator of facility

7        If a program participant who is a facility emitter ceases to be the owner or operator of the facility, the new owner or operator must

 

                   (a)      register in the program no later than 30 days after becoming the owner or operator of the facility; and

 

                   (b)     meet all the requirements that applied to the former owner or operator under these regulations.


Content of application to register

8        (1)    An application to register in the program must include all of the following information and documents:

 

                   (a)      the program participant’s name and contact information and whether they are an individual or a corporation, partnership, sole proprietor or other type of organization or entity;

 

                   (b)     for a corporation, all of the following information about the corporation:

 

                              (i)      the date and place of incorporation,

 

                              (ii)     the business number,

 

                              (iii)    the names and contact information of the directors and officers,

 

                              (iv)    the names and contact information of persons controlling over 10% of the voting rights attached to all the outstanding voting securities,

 

                              (v)     the name of all subsidiaries and parent corporations or partnerships associated with the corporation;

 

                   (c)      for a partnership, all of the following information about the partnership:

 

                              (i)      the business number,

 

                              (ii)     the name and contact information of each partner or, for a limited partnership, the name and contact information of each partner and general partner,

 

                              (iii)    the name and contact information of the directors and officers of each partner who is a corporation,

 

                              (iv)    the name and contact information of each special partner having provided over 10% of the common stock,

 

                              (v)     the name of any person who is controlled by the partnership or by whom the partnership is controlled and a description of the nature of that control,

 

                              (vi)    if a partner in a partnership is a corporation, the name of all subsidiaries and parent corporations or partnerships associated with that partner;

 

                   (d)     for a person who is not an individual, corporation or partnership, all of the following information about the person:

 

                              (i)      the date and place of the person’s establishment by other means,

 

                              (ii)     their business number, if applicable,

 

                              (iii)    the name and contact information of an individual authorized to act on their behalf,

 

                              (iv)    the name of any person who is controlled by the person or by whom the person is controlled and a description of the nature of that control;

 

                   (e)      if the person has a business relationship with, or is a related person in respect of, another program participant or person who is required to be registered in the program, all of the information about the other program participant or person:

 

                              (i)      their name and contact information,

 

                              (ii)     whether they are an individual or a corporation, partnership, sole proprietor or other type of organization or entity,

 

                              (iii)    if they are not an individual, the date and place of their incorporation or the date and place of their establishment by other means,

 

                              (iv)    a description of the nature of their business relationship or other relationship as related persons, including

 

                                        (A)   the percentage of shares, securities or other interests of each person held by the others, and

 

                                        (B)   a diagram showing the relationship,

 

                              (v)     their general account number,

 

                              (vi)    the name and contact information of their primary account representative;

 

                   (f)      a designation of account representatives prepared in accordance with Section 30 and a statement indicating whether any account representatives are consultants;

 

                   (g)     a statement setting out

 

                              (i)      whether any of the persons’ account representatives is an account representative for another program participant and, if so, the identity of that program participant, and

 

                              (ii)     the name of each account representative to which subclause (i) applies;

 

                   (h)     a document signed by a director or any other officer of the applicant or a resolution of the board of directors of the applicant that sets out all of the following:

 

                              (i)      an undertaking that they will comply with the Act and these regulations,

 

                              (ii)     a statement that the information provided under this Section is accurate, to the best of their knowledge;

 

                   (i)      all of the following information relating to each specified GHG activity and facility in respect of which the emitter is required to submit a verification statement for a GHG report:

 

                              (i)      all GHG Registry numbers assigned by the Minister under Section 7 of the QRV Regulations,

 

                              (ii)     the primary NAICS codes and any secondary and tertiary NAICS codes related to each activity,

 

                              (iii)    the names and contact information of any persons responsible for preparing a GHG report in respect of the activities.

 

          (2)    A program participant must notify the Minister of any change to the information and documents required under subsection (1) within 30 days of the change.


Attribution of Greenhouse Gas Emissions to Program Participants


Attribution of emissions—specified GHG activities at facility

9        (1)    This Section applies in relation to specified GHG activities engaged in at a facility during a year for the purpose of attributing an amount of greenhouse gas emissions to the owner or operator of the facility in respect of those activities under Section 112D of the Act.

 

          (2)    Subject to subsection (3), if a verification statement is submitted, or is required to be submitted, to the Minister under the QRV Regulations for a GHG report for a facility for a year, the amount of greenhouse gas emissions attributable to the owner or operator of the facility for that year is as set out in the following table:


Verification Statement

Amount of GHG Emissions Attributed to Owner or Operator of Facility

positive or qualified positive verification statement

verification amount set out in the GHG report

adverse verification statement

amount determined by the Minister under Section 11

required verification statement not submitted

amount determined by the Minister under Section 11

 

          (3)    If a revised GHG report for a facility for a year is submitted to the Minister under the QRV Regulations, the amount of greenhouse gas emissions attributable to the owner or operator of the facility for that year is the amount attributed under subsection (2), as applicable, based on the revised GHG report.

 

          (4)    A revised GHG report for a facility may not be submitted after September 15, 2023.


Attribution of emissions—specified GHG activities for fuel supplier emitters

10      (1)    This Section applies in relation to specified GHG activities engaged in by a fuel supplier emitter during a year for the purpose of attributing an amount of greenhouse gas emissions to the emitter in respect of those activities under Section 112D of the Act.

 

          (2)    Subject to subsection (3), if a verification statement is submitted, or is required to be submitted, to the Minister under the QRV Regulations for a GHG report for a fuel supplier emitter for a year, the amount of greenhouse gas emissions attributable to the fuel supplier emitter for that year is as set out in the following table:


Verification Statement

Amount of GHG Emissions Attributed to
Fuel Supplier Emitter

positive or qualified positive verification statement

verification amount set out in the GHG report

adverse verification statement

amount determined by the Minister under Section 11

required verification statement not submitted

amount determined by the Minister under Section 11

 

          (3)    If a revised GHG report for a fuel supplier emitter for a year is submitted to the Minister under the QRV Regulations, the amount of greenhouse gas emissions attributable to the fuel supplier emitter for that year is the amount attributed under subsection (2), as applicable, based on the revised GHG report.

 

          (4)    A revised GHG report for a fuel supplier emitter may not be submitted after September 15, 2023.


Attribution amount determined by Minister

11      (1)    In determining the amount of greenhouse gas emissions attributed to an emitter under Section 9 or 10, the Minister must base the determination on 1 or more of the following:

 

                   (a)      verification statements and verified GHG reports submitted to the Minister on behalf of the emitter under the QRV Regulations in respect of the specified GHG activity, including any qualifications provided by an accredited verification body;

 

                   (b)     other information available to the Minister in respect of the specified GHG activity;

 

                   (c)      information in respect of the specified GHG activity obtained by the Minister by requesting information from the emitter;

 

                   (d)     information in respect of similar specified GHG activities engaged in by emitters in the Province.

 

          (2)    The Minister must provide an emitter with written notice of the proposed amount determined under subsection (1) that sets out all of the following:

 

                   (a)      the proposed amount;

 

                   (b)     an explanation of how the proposed amount was determined;

 

                   (c)      a statement that the person may, no later than 5 days after the date the notice was given, submit comments in writing to the Minister in respect of the proposed amount.

 

          (3)    After considering any comments received from the emitter under subsection (2), the Minister must give written notice to the emitter of the final amount determined.


Submitting Emission Allowances


Compliance period

12      The compliance period prescribed for the purpose of Section 112D of the Act is January 1, 2019, to December 31, 2022.


Time period for which emission allowances required to be submitted

13      (1)    The time period for which emission allowances are required to be submitted begins on the following dates:

 

                   (a)      January 1, 2019, for a program participant required to register in the program by the deadline in clause 6(a);

 

                   (b)     for a program participant required to register in the program by the deadline in clause 6(b),

 

                              (i)      January 1 in the year immediately after the date they registered in the program, for a facility emitter, and

 

                              (ii)     January 1 in the year immediately before the date they registered in the program, for a fuel supplier emitter.

 

          (2)    A program participant is not permitted to submit emission allowances after the deadline in Section 14.


Deadline for submitting emission allowances for compliance period

14      (1)    The deadline for submitting emission allowances required to be submitted for a compliance period is 9 p.m. Atlantic Standard Time on December 15 immediately after the end of the compliance period.

 

          (2)    [repealed]


Submitting emission allowances

15      To submit emission allowances for the greenhouse gas emissions attributed to a program participant under Sections 9 and 10, the emission allowances must be transferred to the program participant’s compliance account.


Transfer of emission allowances required to be submitted

16      (1)    After the deadline in Section 14, the Minister must transfer emission allowances out of a program participant’s compliance account until all emission allowances required to be submitted for the program participant for the compliance period are transferred, in the following order:

 

                   (a)      emission allowances purchased at a sale by agreement;

 

                   (b)     other emission allowances in the compliance account, beginning with the emission allowances with the earliest vintage and continuing chronologically to the emission allowances with the most recent vintage.

 

          (2)    If a program participant has not transferred all emission allowances required to be submitted by the program participant for the compliance period to their compliance account under Section 15, the Minister may transfer the remaining amount of the required emission allowances out of the program participant’s general account.

 

          (3)    The Minister must transfer the emission allowances under subsections (1) and (2) into the retirement account.

 

          (4)    If the amount of emission allowances transferred under subsections (1) and (2) is less than the amount of emission allowances required to be submitted by the program participant for the compliance period, a program participant may be subject to enforcement action taken in accordance with the Act.


Transfer of emission allowances after deadline

16A   After the deadline in Section 14 and the transfer of emission allowances in accordance with Section 16, a program participant must not transfer, remove or adjust any emission allowances in their accounts.


Cap-and-Trade Accounts


Administrative accounts

17      (1)    Subject to subsection (2), the Minister must maintain all of the following administrative accounts in the program for the following purposes:

 

                   (a)      an issuance account—to record emission allowances created by the Minister;

 

                   (b)     an allocation account—for emission allowances available for allocation without charge;

 

                   (c)      an auction account—for emission allowances intended for sale at auction;

 

                   (d)     a reserve account—for emission allowances intended for sale at auction, sale by agreement or to be used to adjust the quantity of emission allowances allocated without charge;

 

                   (e)      a retirement account—for emission allowances that are retired from the program;

 

                   (f)      a cancellation account—for cancelled emission allowances.

 

          (2)    The number and names of administrative accounts in the program’s electronic system may differ from those established under subsection (1), so long as it does not substantially alter the application of these regulations.


Program participant accounts

18      (1)    On registering a program participant in the program, the Minister must establish all of the following accounts in the program for the program participant:

 

                   (a)      a general account—for emission allowances that are transferred from the Minister, to be held by the program participant until transferred under these regulations;

 

                   (b)     a compliance account—for emission allowances that are required to be submitted by the program participant;

 

                   (c)      a limited use holding account—for emission allowances that are transferred at the request of the program participant to be sold on consignment at auction.

 

          (2)    The accounts established under subsection (1) must be administered and maintained for the purposes and in the manner set out in these regulations.


Minister’s correction of material errors in accounts

19      (1)    The Minister may correct a material error that occurs in any account in the program.

 

          (2)    The Minister must notify the affected program participants and provide reasons for any correction made under subsection (1).


Holding limit for general and compliance accounts

20      (1)    A program participant may hold a combined total of no more than 500 000 emission allowances in their general account and, except as provided in subsection (2), in their compliance account that are

 

                   (a)      of the current year vintage or earlier; or

 

                   (b)     for the compliance account, purchased at a sale by agreement.

 

          (2)    The limit in subsection (1) does not apply to emission allowances in a program participant’s compliance account that are required to be submitted for the current year or for any preceding years.

 

          (3)    A program participant may hold a combined total of no more than 500 000 emission allowances of a vintage subsequent to the current year in their general account and their compliance account.


Holding limit for related persons

21      (1)    The limit in Section 20 applies to program participants who are related persons as if they are a single person.

 

          (2)    Program participants who are related persons must allot percentage shares of the limit in Section 20 amongst themselves and divide up the emission allowances permitted to be held under Section 20 according to those percentages.

 

          (3)    The percentage shares of emission allowances allotted under subsection (2) must be disclosed to the Minister at all of the following times:

 

                   (a)      on registration of the related persons in the program;

 

                   (b)     no later than 30 days after a new business relationship is created;

 

                   (c)      at least 40 days before the date of an auction or sale by agreement for which 1 of the related persons has applied to be registered as a bidder or purchaser.


When holding limit exceeded

22      (1)    Beginning 5 days after a program participant is in contravention of the limit in Section 20, the Minister may transfer the number of emission allowances that exceed the holding limit out of the program participant’s accounts, in the following order:

 

                   (a)      emission allowances in the general account, beginning with emission allowances with the earliest vintage and continuing chronologically to the emission allowances with the most recent vintage;

 

                   (b)     emission allowances in the compliance account, beginning with the emission allowances with the earliest vintage and continuing chronologically to the emission allowances with the most recent vintage.

 

          (2)    The Minister must transfer the emission allowances under subsection (1) to the following administrative accounts in such proportions as the Minister determines to be advisable for the program:

 

                   (a)      the reserve account;

 

                   (b)     the auction account.


Surrendering emission allowances on permanently ceasing specified GHG activities

23      (1)    On notifying the Minister as required by subsection 112J(1) of the Act, the emission allowances required to be surrendered to the Minister under subsection 112J(2) of the Act by a program participant who is permanently ceasing specified GHG activities must be surrendered no later than December 31 following the date of the verification statement for the last GHG report submitted in accordance with the QRV Regulations, by doing all of the following:

 

                   (a)      transferring to their compliance account any emission allowances required to be submitted;

 

                   (b)     for a program participant who is a facility emitter, transferring to their compliance account any emission allowances allocated without charge for the facility that are not required to be submitted.

 

          (2)    The Minister must transfer the emission allowances transferred under clause (1)(a) to the retirement account to be retired.

 

          (3)    The Minister must transfer the emission allowances transferred under clause (1)(b) to the following administrative accounts in such proportions as the Minister determines to be advisable for the program:

 

                   (a)      the reserve account;

 

                   (b)     the auction account.


Closure of program participant’s accounts

24      (1)    Before November 15, 2023, the Minister may close a program participant’s compliance account and transfer all of the emission allowances from it to the program participant’s general account if any of the following apply:

 

                   (a)      the program participant

 

                              (i)      is no longer required to submit a verification statement for a GHG report under the QRV Regulations, and

 

                              (ii)     is in compliance with the Act, the QRV Regulations and these regulations, and has submitted all emission allowances required to be submitted;

 

                   (b)     the program participant

 

                              (i)      notifies the Minister that it no longer owns or operates the facility for which emission allowances are required to be submitted, and

 

                              (ii)     does not own or operate any other facility for which emission allowances are required to be submitted;

 

                   (c)      the program participant

 

                              (i)      is permanently ceasing specified GHG activities at their facility,

 

                              (ii)     does not own or operate any other facility for which emission allowances are required to be submitted, and

 

                              (iii)    has submitted or surrendered emission allowances in compliance with Section 23.

 

          (2)    A program participant whose compliance account is closed under subsection (1) must dispose of any emission allowances in their general account no later than 60 days after the date their compliance account is closed, by doing the following:

 

                   (a)      surrendering to the Minister any emission allowances that were distributed to the program participant without charge by providing written notice of their surrender to the Minister and leaving them in their general account;

 

                   (b)     for any emission allowances that were not distributed to the program participant without charge,

 

                              (i)      transferring them to another program participant, or

 

                              (ii)     leaving them in their general account until the Section 14 deadline.

 

          (3)    The Minister may remove any emission allowances remaining in a program participant’s general account 30 days after their compliance account is closed.

 

          (4)    The Minister must transfer any emission allowances surrendered under subsection (2) or removed under subsection (3) to the following administrative accounts, in such proportions as the Minister determines to be advisable for the program:

 

                   (a)      the reserve account;

 

                   (b)     the cancellation account.

 

          (5)    After 30 days have passed since a program participant’s compliance account was closed, the Minister may close all of the program participant’s accounts and cancel their registration in the program.


Closure of program participants’ accounts after Section 14 deadline

24A   (1)    After the deadline in Section 14 and transfer of emission allowances under Section 16, the Minister may do any of the following:

 

                   (a)      remove and retire excess emission allowances remaining in a participant’s account;

 

                   (b)     close a participant’s account in accordance with Section 24;

 

                   (c)      cancel a participant’s registration in the program;

 

                   (d)     take any other actions the Minister considers necessary to conclude the program.

 

          (2)    A person is not entitled to compensation or damages for the value of any emission allowances retired or cancelled in accordance with subsection (1) or for any other loss directly or indirectly related to actions taken by the Minister to conclude the program.


Account Agents


Recognized account agents

25      (1)    The Minister may recognize an individual who meets the eligibility criteria in Section 26 and provides the information required under Section 27 as a recognized account agent.

 

          (2)    The Minister must assign a unique identification number to each recognized account agent.


Eligibility for recognized account agent

26      An individual may apply to be recognized by the Minister as an account agent in the program if the person meets all of the following eligibility criteria:

 

                   (a)      they have not been convicted of a criminal offence in the 5 years immediately before the application, unless a pardon, including a record suspension with[in] the meaning of the Criminal Records Act (Canada), has been obtained;

 

                   (b)     they have not been found guilty of an offence under the Act, these regulations or the QRV Regulations;

 

                   (c)      they have not been found guilty of an offence under the Securities Act.


Contents of application for recognized account agent

27      An application to be recognized by the Minister as an account agent must include all of following information and documents for the applicant:

 

                   (a)      name, address and date of birth;

 

                   (b)     copies of 2 government-issued identity documents, 1 of which must have a photograph and indicate their name and date of birth;

 

                   (c)      a statement signed by a lawyer or notary, completed no earlier than 3 months before the date the application is submitted, verifying the applicant’s identity and certifying the authenticity of the identity documents;

 

                   (d)     if the applicant is employed, the name and contact information of the their employer;

 

                   (e)      confirmation from a financial institution located in Canada that

 

                              (i)      the applicant has an account with the institution, and

 

                              (ii)     the financial institution has verified the applicant’s identity;

 

                   (f)      a document signed by the applicant stating that

 

                              (i)      the applicant meets the eligibility criteria in Section 26, and

 

                              (ii)     the information included in the application is true and accurate.


Updated or additional information for recognized account agent

28      A recognized account agent must provide the Minister with all of the following:

 

                   (a)      no later than 30 days after any change to the information or documents provided under Section 27, updated information respecting their eligibility;

 

                   (b)     any information relevant to their recognition as an account agent, upon request and by the date requested by the Minister.


Cancellation of account agent recognition

29      The Minister may cancel an individual’s recognition under Section 25 for any of the following reasons, by providing the individual with written notice of cancellation:

 

                   (a)      the Minister is satisfied that the individual does not satisfy, or no longer satisfies, the eligibility criteria in Section 26;

 

                   (b)     the individual fails to provide any information required or requested by the Minister under Section 28.


Program participant to designate recognized account agents

30      (1)    A program participant must designate recognized account agents as their account representatives, as follows:

 

                   (a)      1 individual as a primary account representative;

 

                   (b)     at least 1 and no more than 4 individuals as alternate account representatives, none of whom may also be designated as the primary account representative.

 

          (2)    At least 1 of the account representatives designated under subsection (1) must reside in the Province, unless the program participant has a recognized agent in the Province who is authorized to accept service of documents.

 

          (3)    A program participant may designate up to 5 individuals as account viewing agents.

 

          (4)    A program participant must submit all of the following information and documents for each recognized account agent they designate as their account agent:

 

                   (a)      the recognized account agent’s name and their identification number assigned by the Minister under subsection 25(2);

 

                   (b)     a statement signed by a director or any other officer or a resolution of the program participant’s board of directors confirming that the recognized account agent has been designated by the program participant, and whether they are designated as an account representative or account viewing agent;

 

                   (c)      a statement signed by a lawyer or notary confirming the relationship between the recognized account agent and the program participant;

 

                   (d)     a statement signed by the recognized account agent, confirming that

 

                              (i)      they have been designated by the program participant for the purposes of these regulations, and

 

                              (ii)     they undertake to comply with the Act and these regulations;

 

                   (e)      if the recognized account agent is also designated as an account agent by another program participant, a statement signed by the recognized account agent providing the name and contact information of the other program participant.


Powers and duties of account representative

31      (1)    A program participant’s account representative is authorized to act on behalf of the program participant to perform any actions that the program participant is required or permitted to take under the Act or the regulations.

 

          (2)    A program participant’s account representative who submits a notice or confirmation under these regulations must confirm in writing that

 

                   (a)      they are authorized to submit the notice or confirmation on behalf of the program participant; and

 

                   (b)     the information set out in the notice or confirmation is true, accurate and complete to the best of their knowledge.


Powers of account viewing agent

32      A program participant’s account viewing agent is authorized to observe the program participant’s cap-and-trade accounts on behalf of the program participant.


Termination of account agent designation

33      A designation of a program participant’s account representative or account viewing agent terminates when any of the following occurs:

 

                   (a)      the Minister receives a written request from the program participant to terminate the designation;

 

                   (b)     all of the program participant’s cap-and-trade accounts are closed;

 

                   (c)      the Minister cancels the account agent’s recognition under Section 29.


Suspension and reinstatement of authority to deal with accounts

34      (1)    Before the deadline in Section 14, if the Minister has reason to believe that a program participant or their account representative has contravened the Act, these regulations or the QRV Regulations, the Minister may suspend the program participant’s or account representative’s authority to deal with emissions allowances held in the program participant’s accounts by providing written notice of the suspension to the program participant and any account representative suspended.

 

          (2)    The Minister may reinstate any authority suspended under subsection (1), if satisfied that the program participant or their account representative is not or is no longer in contravention of the Act, these regulations or the QRV Regulations.


Emission Allowance Transactions


General restrictions on emission allowances transactions

35      (1)    An emission allowance may be transferred only in accordance with these regulations.

 

          (2)    A program participant may hold emission allowances for their own use only.

 

          (3)    Once transferred to a compliance account, an emission allowance may only be used to account for emission allowances required to be submitted, except as required for the following:

 

                   (a)      surrendering emission allowances under Section 23;

 

                   (b)     closure of a program participant’s accounts under Section 24;

 

                   (c)      transferring emission allowances to a new owner of a facility under Section 39.

 

          (4)    Only an emission allowance created by the Minister under Section 45 may be transferred or used for compliance purposes in the program.

 

          (5)    An emission allowance that has been cancelled or retired cannot be transferred or used for compliance purposes in the program.


Minister to transfer upon receiving transfer request

36      (1)    The Minister must transfer emission allowances in accordance with a transfer request except in the following circumstances:

 

                   (a)      the requested transfer would result in contravention of the Act or these regulations;

 

                   (b)     the request contains an error or omission or is incomplete;

 

                   (c)      the Minister has reasonable grounds to believe that an offence has been committed under the Act or these regulations in relation to the transfer request.

 

          (2)    If the Minister refuses to transfer emission allowances under subsection (1), the Minister must provide notice of the reason for the refusal to all of the account representatives involved in the transfer request no later than 5 days after the date of the refusal.

 

          (3)    A notice under subsection (2) for a refusal to transfer emission allowances under clause (1)(b) must either

 

                   (a)      identify the error or omission; or

 

                   (b)     include a description of how the request is otherwise incomplete.

 

          (4)    Unless a transfer request is refused under subsection (1), the Minister must ensure that the emission allowances specified in the request are transferred in accordance with the transfer request, on receipt of the following:

 

                   (a)      for transfers under Section 38, the confirmation of the intended transferee’s intent to accept the transfer;

 

                   (b)     for transfers under Section 39, the notice of intent to transfer and confirmation of the registration under Section 7 of the new owner or operator; and

 

                   (c)      for transfers under Section 40, a confirmation of the intent to transfer.


Additional information about transfer of emission allowances to Minister on request

37      The account representatives for a transferor and transferee in any transaction to transfer emission allowances under these regulations must provide the Minister with additional information, upon request and by the date requested by the Minister.


Transferring emission allowances between program participants

38      (1)    To transfer emission allowances from their general account to another program participant’s general account, a program participant must submit a transfer request to the Minister by taking all of the following steps:

 

                   (a)      an account representative of the transferor must submit a notice of the transferor’s intent to transfer emission allowances, setting out all of the information required by subsection (2), to all of the following:

 

                              (i)      the Minister,

 

                              (ii)     all of the transferor’s other account representatives;

 

                   (b)     no later than 2 days after the date that a notice of intent is submitted under clause (a), a 2nd account representative of the transferor must submit a confirmation of the transferor’s intent to transfer the emission allowances specified in the notice to all of the following:

 

                              (i)      the Minister,

 

                              (ii)     all of the transferor’s other account representatives,

 

                              (iii)    all of the intended transferee’s account representatives.

 

          (2)    A notice of a transferor’s intent to transfer emission allowances required by subsection (1) must include all of the following information:

 

                   (a)      the transferor’s general account number;

 

                   (b)     the transferee’s general account number;

 

                   (c)      the total number of emission allowances to be transferred;

 

                   (d)     for each emission allowance to be transferred,

 

                              (i)      the vintage, if any, and

 

                              (ii)     if the transferor and transferee are not related persons, the price to be paid for the emission allowance under the transfer agreement;

 

                   (e)      for each emission allowance of the same vintage, the method used to determine the price to be paid;

 

                   (f)      a detailed description of the transfer agreement that includes all of the following:

 

                              (i)      the date that the transferor and transferee signed the agreement,

 

                              (ii)     the date by which all terms of the agreement are to be fulfilled,

 

                              (iii)    a description of any other matters dealt with in the agreement;

 

                   (g)     the date that the notice is submitted.

 

          (3)    To accept a transfer of emission allowances under this Section, an account representative of the intended transferee must submit a confirmation of the intended transferee’s intent to accept the transfer to the Minister no later than 3 days after the notice of intent is submitted under clause (1)(a).


NSPI not eligible to transfer emission allowances

38A   NSPI is not eligible to transfer emission allowances to another program participant under Section 38.


Transfers between compliance accounts—new facility owner or operator

39      (1)    Subject to subsection (2), to transfer emission allowances from the compliance account of a previous owner or operator of a facility to the compliance account of a new owner or operator of the facility, the previous owner or operator’s account representative must submit a transfer request to the Minister in the form of a notice of intent to transfer emission allowances that sets out all of the following information:

 

                   (a)      the previous owner or operator’s compliance account number;

 

                   (b)     the new owner or operator’s compliance account number;

 

                   (c)      the total number of emission allowances to be transferred;

 

                   (d)     the vintage for each emission allowance to be transferred.

 

          (2)    The Minister must receive the registration of the new owner or operator of the facility required by Section 7 before transferring the emission allowances in accordance with a transfer request under subsection (1).


Transfers from program participant’s general account to compliance account or limited use holding account

40      (1)    To transfer emission allowances from their general account to their compliance account, a program participant must submit a transfer request to the Minister by taking the following steps:

 

                   (a)      an account representative of the program participant must submit a notice of the intent to transfer emission allowances, setting out all of the information required by subsection (3) to all of the following:

 

                              (i)      the Minister,

 

                              (ii)     all of the program participant’s other account representatives;

 

                   (b)     no later than 2 days after the date that the notice of intent is submitted under clause (a), a 2nd account representative of the program participant must submit a confirmation of their intent to transfer the emission allowances specified in the notice to all of the following:

 

                              (i)      the Minister,

 

                              (ii)     all of the program participant’s other account representatives.

 

          (2)    To transfer emission allowances from their general account to their limited use holding account, a program participant’s account representative must submit a transfer request to the Minister, signed by a 2nd account representative of the program participant, setting out all of the information required by subsection (3).

 

          (3)    A notice of intent to transfer emission allowances required by subsection (1) or (2) must include all of the following information:

 

                   (a)      the program participant’s general account number;

 

                   (b)     the program participant’s compliance account number or limited use holding account number, whichever the emission allowances are being transferred to;

 

                   (c)      the total number of emission allowances to be transferred;

 

                   (d)     the vintage for each emission allowance to be transferred.


Annual publication of transactions summary

41      At least annually, the Minister must publish the following on the Department’s website:

 

                   (a)      a list of program participants; and

 

                   (b)     a summary of transactions conducted between program participants during the previous year.


Prohibitions on use of non-public information in dealing with emission allowances

42      (1)    A person must not purchase, sell, trade or otherwise deal with emission allowances if the person has information that could reasonably be expected to have a significant effect on the price or value of an emission allowance, unless the person reasonably believes that the information has been made public or is known to the other party.

 

          (2)    A person must not, other than in the necessary course of business, inform another person of information that could reasonably be expected to have a significant effect on the price or value of an emission allowance, unless the person reasonably believes that the information has been made public or is known to the other party.

 

          (3)    A contravention of subsection (1) or (2) voids the affected transaction.


Misleading or untrue statements

43      A person must not make a statement that the person knows or reasonably ought to know

 

                   (a)      in a material respect and at the time and in the light of the circumstances in which it is made is misleading or untrue or does not state a fact that is required to be stated or that is necessary to make the statement not misleading; and

 

                   (b)     would reasonably be expected to have a significant effect on the price or value of an emission allowance.


Misleading or untrue information

44      A person must not provide any information that the person knows or reasonably ought to know

 

                   (a)      in a material respect and at the time and in the light of the circumstances in which it is provided is misleading or untrue or does not state a fact that is required to be stated or that is necessary to make the information not misleading; and

 

                   (b)     would reasonably be expected to have a significant effect on the price or value of an emission allowance.


Creation and Allocation of Emission Allowances to Administrative Accounts


Creation of emission allowances

45      (1)    An emission allowance created by the Minister must be

 

                   (a)      in electronic form;

 

                   (b)     identified in a way that allows it to be differentiated from all other emission allowances; and

 

                   (c)      recorded in either the administrative accounts or recorded in the accounts of a program participant.

 

          (2)    The number of emission allowances created by the Minister for a year must be the number set out in the following table:


Year

Number of Emission Allowances Created

2019

13 683 000

2020

12 725 000

2021

12 258 000

2022

12 148 000

 

          (3)    Despite subsection (2), the number of emission allowances created by the Minister for 2022 is increased by an additional 2 600 000 emission allowances.


Issuance account

46      (1)    On or before January 1 in the first year of a compliance period, the Minister must record the emission allowances created for that compliance period in the issuance account.

 

          (2)    Despite subsection (1) and for the purposes of allocating the emission allowances created under subsection 45(3), on or before June 1, 2023, the Minister must record the emission allowances created under subsection 45(3) in the issuance account.


Reserve account

47      (1)    On or before January 1 in the first year of a compliance period, the Minister must transfer emission allowances from the issuance account to the reserve account in accordance with subsection (2).

 

          (2)    The number of emission allowances to be transferred to the reserve account under subsection (1) is 3% of the number of emission allowances created for each year in the compliance period.

 

          (3)    Despite subsection (1), this Section does not apply to the emission allowances created under subsection 45(3) and those emission allowances must not be transferred to the reserve account.


Allocation account

48      (1)    Except as provided under subsection (2), on or before January 1 of each year in a compliance period, the Minister must transfer emission allowances from the issuance account to the allocation account to be distributed to program participants without charge in accordance with Sections 50 to 58.

 

          (2)    For emission allowances created under subsection 45(3), the Minister may complete the transfer of those emission allowances after January 1, but before June 1, 2023, in accordance with subsection (1).


Auction account

49      The Minister may transfer some or all emission allowances that are not required for the reserve or allocation accounts to the auction account before each scheduled auction, to be auctioned to program participants.


Allocation of Emission Allowances Without Charge


Calculation of initial allocation of emission allowances without charge to facility emitters, other than NSPI

50      (1)    A program participant who is a facility emitter, other than NSPI, is eligible to receive emission allowances without charge for each year in a compliance period in accordance with this Section and Sections 51 to 54.

 

          (2)    Subject to subsection (3), the Minister must calculate the number of emission allowances to be initially allocated under Section 51 without charge to a program participant who is a facility emitter using Formula 2.1 in Schedule 1.

 

          (3)    For a facility emitter who is required to register in the program by the deadline in clause 6(b), the Minister must use the years that correspond to the following as the reference period to calculate the emission allowances under subsection (2) instead of the years set out in Column 5 of Table 1 of Schedule 1:


Year for Which the Facility is Required to Submit a Verification Statement

Substituted Reference Years in Column 5

3rd

1st year for which the facility is required to submit a verification statement

4th

1st and 2nd years for which the facility is required to submit a verification statement

5th

1st, 2nd and 3rd years for which the facility is required to submit a verification statement

6th
and subsequent years

2nd, 3rd and 4th years for which the facility is required to submit a verification statement


Initial allocation of emission allowances without charge to facility emitters

51      (1)    The Minister must allocate the number of emission allowances that are calculated under Section 50 without charge to program participants who are facility emitters on or before April 14, 2019, and January 14 of each subsequent year, and transfer them to the program participants’ general accounts.

 

          (2)    If the owner or operator of a facility changes before the allocation date in subsection (1) in a given year and the previous owner or operator of the facility notifies the Minister in writing on or before the last business day before the allocation date in that year, the emission allowances in subsection (1) must be allocated to the new owner or operator of the facility.


Calculation of remaining allocation of emission allowances without charge to facility emitters

52      The Minister must calculate the remaining number of emission allowances to be allocated each year under Sections 53 and 54 without charge to a program participant who is a facility emitter, after receiving the verification statement for the GHG report for the year for which allocations were calculated under Section 50, using Formula 3.1 in Schedule 1.


Allocation of remaining emission allowances to facility emitters

53      If the calculation of the remaining emission allowances under Section 52 creates a positive result, the Minister must allocate the program participant the amount of emission allowances calculated under Section 52 and transfer them to the program participant’s general account on or before June 14 of each year after the verification statement is received as required by Section 52.


Surrendering excess emission allowances from initial allocation

54      (1)    If the calculation of the remaining emission allowances under Section 52 creates a negative result, the Minister must notify the program participant that they must transfer an amount of emission allowances of the same or earlier vintage as were issued under Section 51 that is equal to the amount calculated under Section 52 into their compliance account no later than 30 days after the date they receive the Minister’s notification.

 

          (2)    If a program participant does not comply with subsection (1), the Minister may transfer the amount of emission allowances required to be transferred under that subsection from the program participant’s general account into the administrative accounts under subsection (4).

 

          (3)    If there are insufficient emission allowances in a program participant’s accounts to cover the program participant’s obligation under subsection (1), the Minister may reduce the program participant’s next allocation of emission allowances without charge by the number of emission allowances necessary to make up the shortfall.

 

          (4)    The Minister must transfer the emission allowances transferred under subsections (1) or (2) to the following administrative accounts in such proportions as the Minister determines to be advisable for the program:

 

                   (a)      the reserve account;

 

                   (b)     the auction account.


Allocation of emission allowances without charge to NSPI

55      (1)    NSPI is eligible to receive emission allowances without charge in relation to NSPI’s program participation respecting their facilities and in relation to the specified GHG activity of importing electricity into the Province, in accordance with this Section.

 

          (2)    The number of emission allowances NSPI may be allocated without charge for a year is as set out in the following table:


Year

Number of Emission Allowances Allocated Without Charge to NSPI

2019

6 334 000

2020

5 517 000

2021

5 120 000

2022

5 087 000

 

          (3)    The Minister must allocate 100% of the emission allowances to be allocated without charge to NSPI under this Section on or before April 14, 2019, and January 14 of each subsequent year, and transfer the emission allowances to NSPI’s general account.

 

          (4)    Despite subsections (2) and (3), NSPI may be allocated without charge an additional 2 600 000 emission allowances for 2022.

 

          (5)    The Minister must allocate 100% of the emission allowances to be allocated without charge to NSPI under subsection (4) on or before June 1, 2023, and transfer those emission allowances to NSPI’s compliance account.


Calculation and allocation of emission allowances without charge to fuel supplier emitters

56      (1)    Subject to Section 57, for each year in a compliance period, the Minister must calculate the number of emission allowances required to be submitted by a program participant who is a fuel supplier emitter based on the greenhouse gas emissions attributed to the emitter under Section 10.

 

          (2)    The Minister must allocate 80% of the emission allowances that are calculated under subsection (1) without charge to program participants who are fuel supplier emitters and transfer them to the program participants’ general accounts on or before June 14 in the year immediately after the year for which the emission allowances are allocated.


Revised GHG reports—adjustment of allocation

57      (1)    Except as provided in subsection (2), a program participant who submits a revised GHG report that increases the verification amount reported in a GHG report submitted for a year in the current compliance period is entitled, during the next allocation of emission allowances, to be allocated additional emission allowances without charge equal to the difference between the quantity calculated based on the original GHG report and the quantity calculated based on the revised GHG report.

 

          (2)    No additional emission allowances may be allocated under subsection (1) if the compliance deadline in Section 14 has expired for the year that the revised GHG report is submitted for.


Suspension of allocation of emission allowances without charge

58      (1)    The Minister may suspend the allocation of emission allowances without charge to any program participant who contravenes the Act, these regulations or the QRV Regulations.

 

          (2)    The Minister may reinstate any allocation suspended under subsection (1), if satisfied that the program participant is not or is no longer in contravention of the Act, these regulations or the QRV Regulations.


Auctions and Sales by Agreement


Number of auctions and sales by agreement per year

59      (1)    The Minister may hold an auction or sale by agreement of emission allowances in a specific place or online.

 

          (2)    The Minister may hold no more than 4 auctions and 4 sales by agreement per calendar year.

 

          (3)    The Minister must hold at least 2 auctions per calendar year, beginning in 2020.


Minister’s notice of auction or sale of agreement

60      (1)    No later than 60 days before the date of an auction or sale by agreement, the Minister must publish a notice of the auction or sale on the Department’s website and, if the Minister considers it appropriate, in a newspaper or other publication.

 

          (2)    The Minister’s notice under subsection (1) must include all of the following information:

 

                   (a)      the place or Internet address, the date and the time of the auction or sale;

 

                   (b)     the terms and conditions for registering as a bidder or purchaser;

 

                   (c)      the form of a bid or offer;

 

                   (d)     the procedure for submitting a bid or offer;

 

                   (e)      the procedure for the auction or sale by agreement;

 

                   (f)      for an auction,

 

                              (i)      the number of emission allowances to be auctioned, the vintages and the composition of each lot, and

 

                              (ii)     the minimum purchase price for the emission allowances at the auction;

 

                   (g)     for a sale by agreement,

 

                              (i)      the number of emission allowances available for sale, and

 

                              (ii)     the price for the emission allowances;

 

                   (h)     the regulatory rules that apply to the auction or sale by agreement.


Registration with Minister as a bidder or purchaser

61      (1)    To participate in an auction or sale by agreement, a program participant must register with the Minister as a bidder or purchaser no later than 30 days before the date of the auction or sale by agreement by submitting all of the following information and documents:

 

                   (a)      their name and contact information;

 

                   (b)     the names and identification numbers of the their account representatives;

 

                   (c)      for a sale by agreement, their compliance account number;

 

                   (d)     for an auction, their general account number;

 

                   (e)      the names and contact information of any advisors who were retained in relation to their bidding strategy and the name of any employer of the advisor;

 

                   (f)      the form of the financial guarantee that will be submitted under Section 65.

 

          (2)    To participate in an auction or sale by agreement, a program participant must provide the Minister with an update of any change in the following information and documents no later than 40 days before the date of the auction or sale:

 

                   (a)      all information or documents required on registration as a program participant under Section 8 relating to

 

                              (i)      the program participant’s identity, ownership, administration and structure, and

 

                              (ii)     the existence of any business relationship;

 

                   (b)     in relation to the related persons disclosed on registration as a program participant under Section 8, as updated under clause (a), the allocation of the holding limit.

 

          (3)    A program participant is not permitted to participate in an auction or sale by agreement if there is any change in the information provided under clause (2)(b) 30 days or less before the date of the auction or sale.


Restriction on services of an advisor at auction or sale by agreement

62      (1)    Except as provided in subsection (2), a program participant who retains an advisor in relation to their bidding or purchasing strategy in an auction or sale by agreement must ensure that the advisor does not do any of the following:

 

                   (a)      disclose any of the information set out in Section 63;

 

                   (b)     coordinate the bidding or purchasing strategy of any other bidder or purchaser in relation to an auction or sale by agreement in the same calendar year.

 

          (2)    Subsection (1) does not apply to a person who is acting as an advisor for more than 1 program participant, if the program participants are related persons to each other.


Prohibition on disclosing information about auction or sale by agreement participation

63      A program participant must not disclose any information relating to their participation or non-participation in an auction or sale by agreement, including any of the following:

 

                   (a)      whether they are participating in an auction or sale by agreement;

 

                   (b)     their identity;

 

                   (c)      their bidding strategy;

 

                   (d)     the amount of their bids or purchase offers and the number of emission allowances bid or offered for;

 

                   (e)      the financial information submitted to the Minister.


Refusal to permit participation in auction or sale by agreement

64      The Minister may refuse to register a program participant as a bidder or purchaser, if the program participant has done any of the following:

 

                   (a)      provided false or misleading information when applying to register to participate in the auction or sale by agreement, or any previous auction or sale;

 

                   (b)     failed to disclose required information;

 

                   (c)      contravened a rule of procedure for the auction or sale by agreement, or any previous auction or sale.


Financial guarantee for auction or sale by agreement

65      (1)    A registered bidder or purchaser must provide a financial guarantee at least 12 days before the date of the auction or sale by agreement.

 

          (2)    The financial guarantee required by subsection (1) must be

 

                   (a)      submitted in Canadian dollars;

 

                   (b)     be valid for a period of at least 26 days following the date of the auction or sale by agreement;

 

                   (c)      be provided in 1 of the following forms:

 

                              (i)      bank transfer,

 

                              (ii)     1 of the following issued by a bank as defined under the Bank Act (Canada) or a body corporate to which the Trust and Loan Companies Act (Canada) applies:

 

                                        (A)   an irrevocable letter of credit,

 

                                        (B)   a letter of guarantee.

 

          (3)    If the Minister designates a third party to administer the financial services for the program, the financial guarantee must be made out to and deposited with the designated third party or their financial institution.


Auction of Emission Allowances


Sale of emission allowances by consignment at auction

66      (1)    To sell emission allowances on consignment at auction, a program participant must first request a transfer of the emission allowances to their limited use holding account.

 

          (2)    Emission allowances transferred to a program participant’s limited use holding account for sale at auction must be transferred by the Minister to the auction account no later than 5 days after the date of the request, to be sold

 

                   (a)      at the next auction; or

 

                   (b)     if the transfer request required by Section 40 is not received at least 63 days before the next scheduled auction, at the auction immediately after the next scheduled auction.

 

          (3)    Emission allowances placed for sale on consignment at auction must be sold before any other emission allowances in the auction account, in the order in which the transfer to the program participant’s limited use holding account under Section 40 was completed.

 

          (4)    Any emission allowances transferred to the auction account to be offered for sale on consignment must remain in the auction account until sold.

 

          (5)    Following the sale of a program participant’s emission allowances on consignment at an auction, the Minister must transfer 100% of the sale price to the program participant.

 

          (6)    Despite subsection (4), if emission allowances offered for sale on consignment are not sold, the Minister may return the emission allowances to the program participant’s general account.


NSPI not eligible to sell emission allowances by consignment

66A   NSPI is not eligible to sell emission allowances by consignment under Section 66.


Program participants eligible to participate in auction

67      A program participant is eligible to participate in an auction as a bidder, unless

 

                   (a)      emission allowances are not required to be submitted for emissions attributed to the program participant for the previous calendar year; or

 

                   (b)     their cap-and-trade accounts have been suspended or revoked for any reason other than failing to submit sufficient emission allowances in relation to attributable greenhouse gas emissions.


Auctioning of emission allowances

68      The auctioning of emission allowances must be by a single round of bidding and using sealed bids in Canadian dollars.


Composition of lots of emission allowances available for auction

69      (1)    Emission allowances must be auctioned in lots of 1000 emission allowances, except for the last lot which may consist of fewer emission allowances.

 

          (2)    Emission allowances from a vintage that is the same as or a year previous to the year of an auction may be combined together in the same lot of emission allowances at the auction.

 

          (3)    Emission allowances from a vintage subsequent to the year of the auction may not be combined together in a lot with emission allowances of another vintage.


Minimum price of emission allowances at an auction

70      (1)    The minimum price of emission allowances at an auction is set as follows:

 

                   (a)      for an auction conducted in 2020, $20 per emission allowance;

 

                   (b)     for an auction conducted in any year after 2020, the minimum price set for the previous year, increased by 5% and adjusted for inflation in accordance with the Consumer Price Index, as calculated by the Minister.

 

          (2)    The Minister must reject any bid submitted at less than the minimum price set under subsection (1).


Program participant’s bids at auction

71      (1)    A program participant’s account representatives may submit more than 1 bid at an auction on behalf of the program participant, subject to the terms and conditions set out in the notice of auction published by the Minister under Section 60.

 

          (2)    A bid submitted at an auction must state all of the following:

 

                   (a)      the number of lots of emission allowances requested;

 

                   (b)     the price offered per emission allowance, in dollars and whole cents.

 

          (3)    The maximum bid value of all bids submitted at an auction for a program participant may not exceed the amount of the financial guarantee provided.


Calculation of maximum bid value of program participant’s bids at auction

72      (1)    Before accepting any bids, the Minister must calculate the maximum bid value of all of a program participant’s bids at an auction in accordance with subsection (2).

 

          (2)    The maximum bid value is the highest value obtained by multiplying each bid price included in the program participant’s bids by the number of emission allowances that the program participant proposed to purchase at that bid price or at a higher bid price.


Limit on total amount of emission allowances purchased at auction                                 

73      (1)    Except as may be permitted under Section 73A, a program participant who is a facility emitter, other than NSPI, may not purchase more than the following amount of emission allowances at auction:

 

                   (a)      per auction, 3% of the emission allowances required to be submitted by the program participant for emissions in the previous calendar year;

 

                   (b)     per calendar year, 5% of the emission allowances required to be submitted by the program participant for emissions in the previous calendar year.

 

          (2)    Except as may be permitted under Section 73A, a program participant who is a fuel supplier emitter, other than NSPI, may not purchase more than the following amount of emission allowances at auction:

 

                   (a)      per auction, 15% of the emission allowances required to be submitted by the program participant for emissions in the previous calendar year;

 

                   (b)     per calendar year, 25% of the emission allowances required to be submitted by the program participant for emissions in the previous calendar year.

 

          (3)    Except as may be permitted under Section 73A, NSPI may not purchase more than 5% of the emission allowances available for sale at an auction.

 

          (4)    Despite subsections (1) to (3), the purchase limits in those subsections may be exceeded by the amount required to purchase a full lot of emission allowances, if purchasing a portion of the lot is within the program participant’s purchase limits.


Purchase of outstanding emission obligations at auctions

73A   (1)    Despite Section 73, for an auction held in 2023, a program participant, including NSPI[,] with insufficient emission allowances to comply with their obligations under Section 112D of the Act and Section 14, may participate at the auction, subject to the following conditions and purchasing limits:

 

                   (a)      the participant at the time of the auction must have insufficient emission allowances to cover their obligations required under Section 112D of the Act;

 

                   (b)     the participant is permitted to purchase emission allowances only in an amount equivalent to the required outstanding emission allowance obligations under clause (a).

 

          (2)    Despite subsection (1), the purchase limits in this Section may be exceeded by the amount required to purchase a full lot of emission allowances, if purchasing a portion of the lot is within the program participant’s purchase limits.


Rejection of program participant’s bids that exceed holding or purchase limits

74      (1)    After the period of time for bidding has concluded, the Minister must reject a program participant’s bids, or a portion of their bids, if accepting all of the program participant’s bids would result in a contravention of either

 

                   (a)      the holding limit under Section 20; or

 

                   (b)     the purchase limit in Section 73.

 

          (2)    In rejecting a program participant’s bids, or a portion of their bids, under subsection (1), the Minister must first reject the bid with the lowest price offered, and then continue in increasing order by bid price until the total of the program participant’s bids remaining would, if accepted, not result in a contravention of Section 20 or 73.


Removal of lots from program participant’s bids if over financial guarantee

75      (1)    After the period of time for bidding has concluded, the Minister must remove any lots from a program participant’s bid that cause the maximum bid value of all of their bids at the auction to exceed the amount of their financial guarantee.

 

          (2)    The Minister must assign a new offer price to lots removed under subsection (1) based on the offer prices of all bids at the auction, by descending value, beginning with the price immediately below the price in the bid that caused the maximum bid value of the program participant’s bids at the auction to exceed their financial guarantee, until the lots are assigned a price that would bring the maximum bid value of all of the program participant’s bids at the auction within the limit of their financial guarantee.

 

          (3)    If it is not possible to assign a new offer price under subsection (2) to bring the maximum bid value of all of the program participant’s bids at the auction within the limit of their financial guarantee, the Minister must reject the removed lots.

 

          (4)    A program participant whose bids have been assigned a new offer price under subsection (2) is deemed to have submitted the bids at that offer price.


Awarding emission allowances at auction

76      The Minister must accept all bids that have not been rejected and then award emission allowances, starting with the bidder that submitted the highest offer price and then to the next highest bidder, and so forth, until all of the available emission allowances have been awarded.


Final sale price per emission allowance

77      The final sale price for all emission allowances sold at an auction is the lowest offer price for the bids for which the Minister awards emission allowances under Section 76.


Dividing emission allowances amongst lowest price bidders

78      If there is more than 1 bidder at the lowest offer price for which the Minister has awarded emission allowances under Section 76, and the total amount of accepted bids at that offer price exceeds the remaining amount of emission allowances available, the Minister must divide the remaining emission allowances among the bidders at that price in accordance with the following steps:

 

                   (a)      determine each bidder’s share by dividing the number of emission allowances bid on by the bidder at that price by the total number of emission allowances for which bids were received at that price;

 

                   (b)     award the remaining emission allowances by multiplying each bidder’s share by the remaining number of emission allowances, rounding down to the nearest whole number;

 

                   (c)      if there are any emission allowances remaining after completing the step in clause (b), assign a random number to each of the bidders and award 1 emission allowance per bidder, in ascending order of the numbers assigned, until all of the emission allowances have been awarded.


Sale by Agreement


Program participants eligible to purchase emission allowances at sale by agreement

79      A program participant is eligible to register as a purchaser to purchase emission allowances at a sale by agreement only if

 

                   (a)      emission allowances are required to be submitted for emissions attributed to the program participant for the previous calendar year;

 

                   (b)     they have no emission allowances in their general account; and

 

                   (c)      their accounts have not been suspended or revoked for any reason other than failing to submit emission allowances required to be submitted.


Sale price of emission allowances at sale by agreement

80      The sale price of emission allowances at a sale by agreement must be set as follows:

 

                   (a)      $50 per emission allowance, for a sale by agreement conducted in 2020;

 

                   (b)     for a sale by agreement conducted in any year after 2020, the sale price set for the previous year, increased by 5% and adjusted for inflation in accordance with the Consumer Price Index, as calculated by the Minister.


Selling of emission allowances by sale by agreement

81      The sale by agreement of emission allowances consists of a single round of offers, using sealed offers in Canadian dollars.


Composition of lots of emission allowances available for sale by agreement

82      Emission allowances must be offered for sale at a sale by agreement in lots of 1000 emission allowances, except for the last lot.


Program participant’s offers at sale by agreement

83      A program participant’s account representatives may submit more than 1 offer at a sale by agreement on behalf of the program participant, subject to the terms and conditions set out in the notice of sale by agreement published by the Minister under Section 60.


Rejection of program participant’s offers that exceed holding limit or financial guarantee

84      After the period of time for submitting offers has concluded, the Minister must remove lots of emission allowances from any of a program participant’s offers submitted at a sale by agreement, that either

 

                   (a)      exceed the financial guarantee provided; or

 

                   (b)     would result, if accepted, in a contravention of the holding limit under Section 20.


Sale of emission allowances when available allowances equal to or exceed offers

85      When the total number of emission allowances for which purchasers have submitted offers at a sale by agreement is equal to or less than the number of emission allowances available at the sale by agreement, the Minister must award the emission allowances to the purchasers in accordance with their offers.


Sale of emission allowances when offers exceed available allowances

86      When the total number of emission allowances for which purchasers have submitted offers at a sale by agreement exceeds the number of emission allowances available at the sale by agreement, the Minister must divide the available emission allowances among the purchasers in accordance with the following steps:

 

                   (a)      determine each purchaser’s share by dividing the number of emission allowances for which offers have been received from each purchaser by the total number of emission allowances for which offers have been received;

 

                   (b)     award the available emission allowances by multiplying each purchaser’s share by the available number of emission allowances, rounding down to the nearest whole number;

 

                   (c)      if there are any emission allowances remaining after completing the step in clause (b), assign a random number to each of the purchasers and award 1 emission allowance per purchaser, in ascending order of the numbers assigned, until all of the emission allowances have been awarded.


Post-auction and Post-sale by Agreement


Payment of amount owing for emission allowances purchased

87      (1)    A program participant who purchases emission allowances at an auction or by sale by agreement must pay the amount owing for the allowances, less any amount withheld under subsection (2), no later than 7 days after notification of the purchase is sent.

 

          (2)    If the financial guarantee provided by a program participant is in the form of a bank transfer, then the amount owing for the purchase of emission allowances at auction or by sale by agreement is withheld from the financial guarantee.

 

          (3)    If the amount owing for a program participant’s purchase of emission allowances at auction or by sale by agreement is not transferred in full in accordance with subsection (1) or withheld under subsection (2), the Minister may withhold the remaining amount owing from the financial guarantee provided, using the form of guarantee in the order set out in Section 65, until the amount owing is paid in full.

 

          (4)    Any of a financial guarantee not required to pay the amount owing for the purchase of emission allowances at auction or by sale by agreement must be returned to the program participant.


Transferring emission allowances purchased at auction or sale by agreement

88      On receiving payment in full for the emission allowances allocated to a program participant at an auction or sale by agreement, the Minister must issue the emission allowances to the program participant by transferring the emission allowances to the following program accounts for the program participant:

 

                   (a)      for an auction:

 

                              (i)      the general account, or

 

                              (ii)     to comply with the holding limit in Section 20, compliance account;

 

                   (b)     for a sale by agreement, the compliance account.


Unsold emission allowances after auction or sale by agreement

89      Any emission allowances that remain unsold at the close of an auction or sale by agreement must,

 

                   (a)      for a sale by agreement, remain in the reserve account; or

 

                   (b)     for an auction, remain in the auction account for future auctions.


Publication of summary of auction or sale by agreement

90      The Minister must publish a summary of each auction or sale by agreement on the Department’s website no later than 45 days after the close of the auction or sale by agreement, including all of the following information:

 

                   (a)      the names of the program participants registered as bidders or purchasers;

 

                   (b)     the final purchase price of the emission allowances;

 

                   (c)      without identifying the purchasers, the total amount and distribution of the emission allowances sold at the auction or sale by agreement.


Information, Records and Forms


GHG Registry information

91      Any information submitted under these regulations is deemed to be recorded in the GHG Registry.


Retention of records

92      A program participant must keep all records created by the program participant relating to their participation in the program and their compliance with these regulations, including all the following, in paper or electronic format, for at least 7 years after the date that the records were created:

 

                   (a)      registration in the program;

 

                   (b)     transactions in the program;

 

                   (c)      designations of recognized account agents;

 

                   (d)     documents relating to the allocation of emission allowances;

 

                   (e)      registrations in auctions or sales by agreement.


Form and manner of records and required information submitted

93      (1)    A record or other information that is required to be submitted under these regulations must be submitted in a form provided or approved by the Minister and in a manner approved by the Minister.

 

          (2)    The Minister may require that a record or information required to be submitted under these regulations be in an electronic format specified by the Minister.


 ________________________________________________________________ 

Schedule 1—Calculation of Allocation of Emissions Allowances Without Charge
to Facility Emitters Other than NSPI

(Cap-and-Trade Program Regulations, S. 50 and 52)


Formulas


Formula 1.1—estimated base number of emission allowances

ole.gif

 

in which

 

                   Bcit-2 =       the estimated base number of emission allowances for a facility’s GHG emissions for year t

 

                   producti_t-2 =the amount for year t-2 of

 

                                        (i)     quantity of product i produced, if the product is set out in Column 2 of Table 1,

 

                                        (ii)    quantity of process parameter i, if the process parameter is set out in Column 2 of Table 1

 

                   EIc_i =         the historical facility production intensity benchmark, calculated using Formula 1.2


Formula 1.2—historical facility production intensity benchmark

ole1.gif

 

in which

 

                   EIc_i =         the historical facility production intensity benchmark

 

                   Ec_ij =          the historical combustion emissions for product i specified in Column 2 of Table 1 for the reference years j specified in Column 5 of Table 1

 

                   productij =   the

 

                                        (i)     quantity of product i set out in Column 2 of Table 1 that was produced at the facility for years j specified in Column 5 of Table 1

                                        (ii)    quantity of the process parameter i set out in Column 2 of Table 1 for years j specified in Column 5 of Table 1


Formula 2.1—initial emission allowances allocated


ole2.gif

 

in which

 

                   At-2 =           the number of emissions allowances to be initially allocated for the year t, after applying the cap adjustment factor and assistance factor to the estimated base number of emission allowances calculated

 

                   0.75 =          percentage of calculated emission allowances to be initially allocated

 

                   AFt =           the assistance factor for year t, as set out in Column 7 of Table 1 for each year in the compliance period

 

                   Cat =            the cap adjustment factor for year t with adjustment based on biomass fuel use, calculated using Formula 2.2

 

                   Bcit-2 =       the estimated base number of emission allowances for a facility’s GHG emissions for year t, calculated using Formula 1.1



Formula 2.2—cap adjustment factor with adjustment for biomass fuel use


ole3.gif

in which

 

                   Cat =            the cap adjustment factor for year t with adjustment based on biomass fuel use

 

                   Cct =            the cap adjustment factor without adjustment for biomass fuel use, as set out in Table 2 for year t

 

                   Fbt =            adjustment based on biomass fuel use, calculated using Formula 2.3


Formula 2.3—adjustment for biomass fuel use


ole4.gif

in which

 

                   Fbt =            adjustment based on biomass fuel use

 

                EIBiomass_t-2 =   energy input from biomass fuel at the facility in year t-2, in gigajoules

 

                EIAllFuels_t-2 =   total energy input from all fuel, including biomass fuel, at the facility in year t-2, in gigajoules


Formula 3.1—remaining allocation of emission allowances

ole5.gif

 

in which

 

                   Badj =           production adjustment

 

                   AFt=            the assistance factor for year t, as set out in Column 7 of Table 1 for each year in the compliance period

 

                   Cat =            the cap adjustment factor for year t with adjustment based on biomass fuel use, calculated using Formula 2.2

 

                   Bci_t =          actual base number of emission allowances for year t, calculated based on the applicable Formula 3.2.1 or 3.2.2

 

                   At-2 =           the number of emissions allowances initially allocated for the year t, calculated using Formula 2.1, after applying the cap adjustment factor and assistance factor to the estimated base number of emission allowances calculated


Formula 3.2.1

ole6.gif


 

in which

 

                   Bci_t =          actual base number of emission allowances for year t

 

                   Producti_t = the amount for year t of

 

                                        (i)     quantity of product i set out in Column 2 of Table 1

 

                                        (ii)    quantity of the process parameter i set out in Column 2 of Table 1

 

                   EIc_i =         the historical facility production intensity benchmark, calculated using Formula 1.2


Formula 3.2.2

If the owner of the facility has notified the Minister as required under subsection 112J(1) of the Act that they have ceased or are about to cease to be an emitter, the following formula must be used:

ole7.gif

 

in which

 

                   Bci_t =          actual base number of emission allowances for year t

 

                   Producti_t-2 =the amount for year t-2 of

 

                                        (i)     quantity of product i set out in Column 2 of Table 1

 

                                        (ii)    quantity of the process parameter i set out in Column 2 of Table 1

 

                   EIc_i =         the historical facility production intensity benchmark, calculated using Formula 1.2


Supporting Tables


Table 1—Historical facility emissions intensity for product produced/process parameter


Column 1

Specified GHG Activity

(or component)

Column 2

Product i Produced/ Process Parameter i

Column 3

Product i Produced/ Process Parameter i units

Column 4

Historical Combustion Emissions Intensity

Column 5

Fixed Reference Period (j)

Column 6

Facility Intensity Benchmark Units

Column 7

Adjustment

Factor AFt

Cement production

cement: clinker +mineral additives (gypsum and limestone)

metric tons

historical facility combustion emissions intensity

2015, 2016

emission allowances per metric ton of clinker +mineral additives (gypsum and limestone)

1

Pulp and paper

air-dried pulp

metric tons

historical facility combustion emissions intensity

2014, 2015, 2016

emission allowances per air dried metric ton of pulp

0.9

Natural gas processing

raw natural gas throughput

103 cubic metre

historical facility combustion and flaring emissions intensity

2014, 2015, 2016

emission allowances per 103 cubic metre of raw natural gas throughput

0.9



Table 2—Cap adjustment factor without adjustment for biomass fuel use (Cct)


Year

Cap Adjustment Factor
(without adjustment for biomass fuel use)

2019

1.000

2020

0.930

2021

0.896

2022

0.888


 

 


Legislative History
Reference Tables

Cap-and-Trade Program Regulations

N.S. Reg. 194/2018

Environment Act

Note:  The information in these tables does not form part of the regulations and is compiled by the Office of the Registrar of Regulations for reference only.

Source Law

The current consolidation of the Cap-and-Trade Program Regulations made under the Environment Act includes all of the following regulations:

N.S.
Regulation

In force
date*

How in force

Royal Gazette
Part II Issue

194/2018

Nov 13, 2018

date specified

Nov 23, 2018

49/2020

Mar 30, 2020

date specified

Apr 24, 2020

53/2023

Mar 16, 2023

date specified

Apr 7, 2023

160/2023

Sep 12, 2023

date specified

Sep 22, 2023

The following regulations are not yet in force and are not included in the current consolidation:

N.S.
Regulation

In force
date*

How in force

Royal Gazette
Part II Issue

 

 

 

 

 

 

 

 

*See subsection 3(6) of the Regulations Act for rules about in force dates of regulations.

Amendments by Provision

ad. = added
am. = amended

fc. = fee change
ra. = reassigned

rep. = repealed
rs. = repealed and substituted

Provision affected

How affected

2, defn. of “vintage”........................

am. 49/2020

4A....................................................

ad. 49/2020

8(1)(h)..............................................

am. 49/2020

9(3)...................................................

am. 160/2023

9(4)...................................................

rs. 160/2023

10(3).................................................

am. 160/2023

10(4).................................................

ad. 160/2023

12.....................................................

am. 160/2023

13(2).................................................

rs. 160/2023

14(1).................................................

am. 49/2020, 160/2023

14(2).................................................

am. 49/2020; rep. 160/2023

16(4).................................................

rs. 160/2023

16A..................................................

ad. 160/2023

17(1)(d)............................................

am. 53/2023

20(1).................................................

rs. 49/2020

20(3).................................................

ad. 49/2020

24(1).................................................

am. 160/2023

24(2)(b)(ii).......................................

rs. 160/2023

24(3).................................................

am. 160/2023

24(4)(b)............................................

am. 160/2023

24(5).................................................

am. 160/2023

24A..................................................

ad. 160/2023

30(4)(b)............................................

am. 49/2020

34.....................................................

am. 160/2023

38A..................................................

ad. 53/2023

45(3).................................................

ad. 53/2023

46.....................................................

ra as 46(1) 53/2023

. 46(2)..............................................

ad. 53/2023

47(3).................................................

ad. 53/2023

48.....................................................

ra as 48(1) 53/2023

. 48(1)..............................................

ra from 48 53/2023; am. 53/2023

. 48(2)..............................................

ad. 53/2023

50(2).................................................

am. 160/2023

55(4)-(5)...........................................

ad. 53/2023

66(2)(b)............................................

am. 53/2023

66(6).................................................

ad. 160/2023

66A..................................................

ad. 53/2023

73(1).................................................

am. 53/2023

73(2).................................................

am. 53/2023

73(3).................................................

am. 53/2023

73A..................................................

ad. 53/2023

83.....................................................

am. 49/2020

86(c).................................................

am. 49/2020

87(3) second instance......................

ra. as 87(4) 49/2020

Schedule 1, Formula 3.1..................

am. 49/2020

Schedule 1, Formula 3.2..................

rep. 49/2020

Schedule 1, Formula 3.2.1...............

ad. 49/2020

Schedule 1, Formula 3.2.2...............

ad. 49/2020

 

 

 

 

Note that changes to headings are not included in the above table.

Editorial Notes and Corrections:

 

Note

Effective
date

1

Second subsection 87(3) in original text renumbered as subsection 87(4) for the purposes of this consolidation.

(corrected by N.S. Reg. 49/2020)

 

 

 

 

 

 

 

Repealed and Superseded:

N.S.
Regulation

Title

In force
date

Repealed
date

 

 

 

 

Note: Only regulations that are specifically repealed and replaced appear in this table.  It may not reflect the entire history of regulations on this subject matter.