LEX-FAOC122989

The present Regulations are made under the Climate Change Mitigation and Low-Carbon Economy Act, 2016. The Regulation provides for detailed rules and obligations for businesses participating in the program. In particular, the final design was informed by extensive consultation with businesses, industry, public and environmental organizations. The province also engaged Indigenous communities about the regulation, and has committed to continuing these discussions. The Regulation includes compliance and enforcement provisions to ensure accountability, transparency and to guard against fraud, auction and sale rules, strategic reserve of allowances, market rules and allocations. The text consists of 93 sections divided into 7 Parts as follows: General (I); Attribution of greenhouse gas emissions (II); Submission of emission allowances and credits for compliance period (III); Registration in the Cap and trade program (IV); Cap and Trade accounts and transactions (v); Distribution of Ontario emission allowances (VI); Miscellaneous (VII). One Schedule is enclosed.