Ontario Government Introduces Bill Repealing Cap And Trade

http://www.mondaq.com/canada/x/724014/Climate+Change/Ontario+Government+Introduces+Bill+Repealing+Cap+And+Trade

The Ontario Government introduced Bill 4: Cap and Trade Cancellation Act, 2018 (Act) on July 25. When it becomes law, the Act will repeal Ontario's cap and trade legislation and "retire" or "cancel" the emissions allowances and offset credits held by Ontario participants, including those purchased at auction. The Act is expected to become law in the coming weeks, though it may undergo changes as it proceeds through the legislative process. Although the Act provides the framework for the wind down of cap and trade, certain specifics, such as the amount of compensation available to eligible participants for cancelled cap and trade instruments, will be prescribed by regulations which have not yet been published.....