9VAC5-140-7290. Closing of general accounts

A. A CO 2 authorized account representative of a general account may instruct the department or its agent to close the account by submitting a statement requesting deletion of the account from the COATS and by correctly submitting for recordation under 9VAC5-140-7300 a CO 2 allowance transfer of all CO 2 allowances in the account to one or more other COATS accounts. B. If a general account shows no activity for a period of one year or more and does not contain any CO 2 allowances, the department or its agent may notify the CO 2 authorized account representative for the account that the account will be closed in the COATS 30 business days after the notice is sent. The account will be closed after the 30-day period unless before the end of the 30-day period the department or its agent receives a correctly submitted transfer of CO 2 allowances into the account under 9VAC5-140-7300 or a statement submitted by the CO 2 authorized account representative demonstrating to the satisfaction of the department or its agent good cause as to why the account should not be closed. The department or its agent will have sole discretion to determine if the owner or operator of the unit demonstrated that the account should not be closed.