[Code of Federal Regulations]
[Title 40, Volume 18]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR90.215]

[Page 199]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 90--CONTROL OF EMISSIONS FROM NONROAD SPARK-IGNITION ENGINES AT OR 
BELOW 19 KILOWATTS--Table of Contents
 
   Subpart C--Certification Averaging, Banking, and Trading Provisions
 
Sec. 90.215  Trading under the optional program.

    (a) An engine manufacturer may exchange emission credits with other 
engine manufacturers in trading.
    (b) Credits for trading can be obtained from credits banked in 
previous model years or credits generated during the model year of the 
trading transaction.
    (c) Traded credits can be used for averaging, banking, or further 
trading transactions.
    (d) Traded credits are subject to the limitations on use for past 
model years, as set forth in Sec. 90.213(c).
    (e) In the event of a negative credit balance resulting from a 
transaction, both the buyer and the seller are liable, except in cases 
involving fraud. Certificates of all engine families participating in a 
negative trade may be voided ab initio pursuant to Sec. 90.123.

[65 FR 24310, Apr. 25, 2000]