(a) The authority will design, implement and administer CO₂ allowance auctions in accordance with the objectives identified in 6 NYCRR Part 242.

(b) Implementation and administrative support functions for any auction conducted pursuant to this Part and with respect to the administration of the account may be delegated by the authority to a designee deemed qualified by the authority to perform such functions, provided that such designee shall perform all such functions under the direction and oversight of the authority.