S.L. 643.2 Art. 8Transfer of greenhouse gas emissions permits.

(1) An operator of an installation ("proposed transferor")

may transfer to another person ("proposed transferee"), in whole or in part, the greenhouse gas emissions permit issued to the installation.

(2) An application for the transfer of a permit shall be submitted to the Authority, in writing, jointly by the proposed transferor and the proposed transferee.

(3) An application under sub-regulation (2) shall include the following information:

(a) the name and address of the proposed transferor;

(b) the name and address of the proposed transferee;

(c) the name and address of the installation to which the greenhouse gas emissions permit relates;

(d) in the case of a request to transfer a permit in part, information identifying the activity or activities or part of an activity or activities to which the transfer of permit applies. The Authority may request any additional information it deems necessary to process an application for the transfer of a INSTALLATIONS

permit.

(4) The Authority shall carry out a transfer of a greenhouse gas emissions permit, if it satisfied that the proposed transferee is capable of complying with the requirements of these regulations and the conditions of the permit. The transfer shall be carried out:

(a) in the case of a transfer of a permit in whole, by transferring the permit for the installation to the proposed transferee, updated to include the name and address of the proposed transferee as the operator of the installation;

(b) in the case of a transfer of a permit in part, by:

(i) issuing a new greenhouse gas emissions permit to the proposed transferee, recording the transfer, identifying the activity or activities or part of an activity or activities to be transferred and identifying the proposed transferee as the operator in respect of the activity or activities covered by the new permit;

(ii) revising and reissuing the greenhouse gas emission permit to the proposed transferor, recording the transfer, and the permit shall be updated so as to identify the activity or activities to be carried out in the installation operated by the proposed transferor.

(5) The transfer of a permit shall come into effect at a time agreed between the proposed transferor, proposed transferee and the Authority, as shall be recorded in the permit.

(6) The Authority shall notify the national registry administrator of any application for the transfer of a permit made to it and the coming into effect of such a transfer. The national registry administrator shall ensure that any changes required are made to the account or accounts relating to the installation or installations to which the transfer of a permit relates so as to reflect the transfer of the permit.