45Notification of non‑submission of certification report

45 Notification of non‑submission of certification report

(1) This regulation applies if the international transaction log notifies the Regulator that all remaining long‑term certified emissions reductions held in relation to a clean development mechanism project must be replaced or cancelled by the cancellation day because a certification report for the project has not been submitted. (2) The Regulator must notify a registered holder of the emission reductions, in writing, of the following: (a) that all of the holder’s long‑term certified emission reductions held in relation to the project must be replaced; (b) the replacement day, and that the replacement must occur 7 days before the cancellation day; (c) the cancellation day; (d) if the replacement has not occurred by the replacement day—that the relevant emission reductions will be transferred to the mandatory cancellation account for the commitment period. (3) The Regulator must notify the registered holder under subregulation (2) at least 21 days before the cancellation day.