Transferring emission credits.

(a) Credit transfer is the conveying of control over credits, either: (1) From a certifying manufacturer/remanufacturer to an owner/operator. (2) From an owner/operator to a certifying manufacturer/remanufacturer. (b) Transferred credits can be: (1) Used by a certifying manufacturer/remanufacturer in averaging. (2) Transferred again within the model year. (3) Reserved for later banking. Transferred credits may not be traded unless they have been previously banked. (c) Owners/operators participating in credit transfers must submit the reports specified in § 1033.730.