[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: 40CFR91.206]

[Page 314]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 91--CONTROL OF EMISSIONS FROM MARINE SPARK-IGNITION ENGINES--Table of 
Contents
 
          Subpart C--Averaging, Banking, and Trading Provisions
 
Sec. 91.206  Trading.

    (a) A marine SI engine manufacturer may exchange emission credits 
with other marine SI engine manufacturers in trading. These credits must 
be used in the same averaging set as generated.
    (b) Credits for trading can be obtained from credits banked in the 
three previous model years or credits generated during the model year of 
the trading transaction. Traded credits expire if they are not used in 
averaging within three model years following the model year in which 
they were generated.
    (c) Traded credits can be used for averaging, banking, or further 
trading transactions.
    (d) 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. 91.123.