# 97.51 Establishment of accounts.
(a) *Compliance accounts and overdraft accounts.* Upon receipt of a complete account certificate of representation under § 97.13, the Administrator will establish:
(1) A compliance account for each NO<sub>X</sub> Budget unit for which the account certificate of representation was submitted; and
(2) An overdraft account for each source for which the account certificate of representation was submitted and that has two or more NO<sub>X</sub> Budget units.
(b) *General accounts*—(1) *Application for general account.* (i) Any person may apply to open a general account for the purpose of holding and transferring allowances. An application for a general account may designate one and only one NO<sub>X</sub> authorized account representative and one and only one alternate NO<sub>X</sub> authorized account representative who may act on behalf of the NO<sub>X</sub> authorized account representative. The agreement by which the alternate NO<sub>X</sub> authorized account representative is selected shall include a procedure for authorizing the alternate NO<sub>X</sub> authorized account representative to act in lieu of the NO<sub>X</sub> authorized account representative. A complete application for a general account shall be submitted to the Administrator and shall include the following elements in a format prescribed by the Administrator:
(A) Name, mailing address, e-mail address (if any), telephone number, and facsimile transmission number (if any) of the NO<sub>X</sub> authorized account representative and any alternate NO<sub>X</sub> authorized account representative;
(B) At the option of the NO<sub>X</sub> authorized account representative, organization name and type of organization;
(C) A list of all persons subject to a binding agreement for the NO<sub>X</sub> authorized account representative and any alternate NO<sub>X</sub> authorized account representative to represent their ownership interest with respect to the allowances held in the general account;
(D) The following certification statement by the NO<sub>X</sub> authorized account representative and any alternate NO<sub>X</sub> authorized account representative: “I certify that I was selected as the NO<sub>X</sub> authorized account representative or the NO<sub>X</sub> alternate authorized account representative, as applicable, by an agreement that is binding on all persons who have an ownership interest with respect to NO<sub>X</sub> allowances held in the general account. I certify that I have all the necessary authority to carry out my duties and responsibilities under the NO<sub>X</sub> Budget Trading Program on behalf of such persons and that each such person shall be fully bound by my representations, actions, inactions, or submissions and by any order or decision issued to me by the Administrator or a court regarding the general account.;”
(E) The signature of the NO<sub>X</sub> authorized account representative and any alternate NO<sub>X</sub> authorized account representative and the dates signed.
(ii) Unless otherwise required by the permitting authority or the Administrator, documents of agreement referred to in the application for a general account shall not be submitted to the permitting authority or the Administrator. Neither the permitting authority nor the Administrator shall be under any obligation to review or evaluate the sufficiency of such documents, if submitted.
(2) *Authorization of NO*<sub>X</sub> *authorized account representative.* Upon receipt by the Administrator of a complete application for a general account under paragraph (b)(1) of this section:
(i) The Administrator will establish a general account for the person or persons for whom the application is submitted.
(ii) The NO<sub>X</sub> authorized account representative and any alternate NO<sub>X</sub> authorized account representative for the general account shall represent and, by his or her representations, actions, inactions, or submissions, legally bind each person who has an ownership interest with respect to NO<sub>X</sub> allowances held in the general account in all matters pertaining to the NO<sub>X</sub> Budget Trading Program, not withstanding any agreement between the NO<sub>X</sub> authorized account representative or any alternate NO<sub>X</sub> authorized account representative and such person. Any such person shall be bound by any order or decision issued to the NO<sub>X</sub> authorized account representative or any alternate NO<sub>X</sub> authorized account representative by the Administrator or a court regarding the general account.
(iii) Any representation, action, inaction, or submission by any alternate NO<sub>X</sub> authorized account representative shall be deemed to be a representation, action, inaction, or submission by the NO<sub>X</sub> authorized account representative.
(iv) Each submission concerning the general account shall be submitted, signed, and certified by the NO<sub>X</sub> authorized account representative or any alternate NO<sub>X</sub> authorized account representative for the persons having an ownership interest with respect to NO<sub>X</sub> allowances held in the general account. Each such submission shall include the following certification statement by the NO<sub>X</sub> authorized account representative or any alternate NO<sub>X</sub> authorizing account representative: “I am authorized to make this submission on behalf of the persons having an ownership interest with respect to the NO<sub>X</sub> allowances held in the general account. I certify under penalty of law that I have personally examined, and am familiar with, the statements and information submitted in this document and all its attachments. Based on my inquiry of those individuals with primary responsibility for obtaining the information, I certify that the statements and information are to the best of my knowledge and belief true, accurate, and complete. I am aware that there are significant penalties for submitting false statements and information or omitting required statements and information, including the possibility of fine or imprisonment.”
(v) The Administrator will accept or act on a submission concerning the general account only if the submission has been made, signed, and certified in accordance with paragraph (b)(2)(iv) of this section.
(3) *Changing NO*<sub>X</sub> *authorized account representative and alternate NO*<sub>X</sub> *authorized account representative; changes in persons with ownership interest.* (i) The NO<sub>X</sub> authorized account representative for a general account may be changed at any time upon receipt by the Administrator of a superseding complete application for a general account under paragraph (b)(1) of this section. Notwithstanding any such change, all representations, actions, inactions, and submissions by the previous NO<sub>X</sub> authorized account representative prior to the time and date when the Administrator receives the superseding application for a general account shall be binding on the new NO<sub>X</sub> authorized account representative and the persons with an ownership interest with respect to the NO<sub>X</sub> allowances in the general account.
(ii) The alternate NO<sub>X</sub> authorized account representative for a general account may be changed at any time upon receipt by the Administrator of a superseding complete application for a general account under paragraph (b)(1) of this section. Notwithstanding any such change, all representations, actions, inactions, and submissions by the previous alternate NO<sub>X</sub> authorized account representative prior to the time and date when the Administrator receives the superseding application for a general account shall be binding on the new alternate NO<sub>X</sub> authorized account representative and the persons with an ownership interest with respect to the NO<sub>X</sub> allowances in the general account.
(iii)(A) In the event a new person having an ownership interest with respect to NO<sub>X</sub> allowances in the general account is not included in the list of such persons in the account certificate of representation, such new person shall be deemed to be subject to and bound by the account certificate of representation, the representation, actions, inactions, and submissions of the NO<sub>X</sub> authorized account representative and any alternate NO<sub>X</sub> authorized account representative of the source or unit, and the decisions, orders, actions, and inactions of the Administrator, as if the new person were included in such list.
(B) Within 30 days following any change in the persons having an ownership interest with respect to NO<sub>X</sub> allowances in the general account, including the addition of persons, the NO<sub>X</sub> authorized account representative or any alternate NO<sub>X</sub> authorized account representative shall submit a revision to the application for a general account amending the list of persons having an ownership interest with respect to the NO<sub>X</sub> allowances in the general account to include the change.
(4) *Objections concerning NO*<sub>X</sub> *authorized account representative.* (i) Once a complete application for a general account under paragraph (b)(1) of this section has been submitted and received, the Administrator will rely on the application unless and until a superseding complete application for a general account under paragraph (b)(1) of this section is received by the Administrator.
(ii) Except as provided in paragraph (b)(3)(i) or (ii) of this section, no objection or other communication submitted to the Administrator concerning the authorization, or any representation, action, inaction, or submission of the NO<sub>X</sub> authorized account representative or any alternative NO<sub>X</sub> authorized account representative for a general account shall affect any representation, action, inaction, or submission of the NO<sub>X</sub> authorized account representative or any alternative NO<sub>X</sub> authorized account representative or the finality of any decision or order by the Administrator under the NO<sub>X</sub> Budget Trading Program.
(iii) The Administrator will not adjudicate any private legal dispute concerning the authorization or any representation, action, inaction, or submission of the NO<sub>X</sub> authorized account representative or any alternative NO<sub>X</sub> authorized account representative for a general account, including private legal disputes concerning the proceeds of NO<sub>X</sub> allowance transfers.
(c) *Account identification.* The Administrator will assign a unique identifying number to each account established under paragraph (a) or (b) of this section.
[65 FR 2727, Jan. 18, 2000, as amended at 69 FR 21646, Apr. 21, 2004]