(a) Within 5 business days (except as provided in paragraph (b) of this section) of receiving a TR NOX Ozone Season allowance transfer that is correctly submitted under Sec. 97.522, the Administrator will record a TR NOX Ozone Season allowance transfer by moving each TR NOX Ozone Season allowance from the transferor account to the transferee account as specified in the transfer.
(b) A TR NOX Ozone Season allowance transfer to or from a compliance account that is submitted for recordation after the allowance transfer deadline for a control period and that includes any TR NOX Ozone Season allowances allocated for any control period before such allowance transfer deadline will not be recorded until after the Administrator completes the deductions from such compliance account under Sec. 97.524 for the control period immediately before such allowance transfer deadline.
(c) Where a TR NOX Ozone Season allowance transfer is not correctly submitted under Sec. 97.522, the Administrator will not record such transfer.
(d) Within 5 business days of recordation of a TR NOX Ozone Season allowance transfer under paragraphs (a) and (b) of the section, the Administrator will notify the authorized account representatives of both the transferor and transferee accounts.
(e) Within 10 business days of receipt of a TR NOX Ozone Season allowance transfer that is not correctly submitted under Sec. 97.522, the Administrator will notify the authorized account representatives of both accounts subject to the transfer of:
(1) A decision not to record the transfer, and
(2) The reasons for such non-recordation.