; and (ii) upon receiving any amendment thereto. 723. Trading (a) Permitted transactions Except as otherwise provided in this title, the lawful holder of an emission allowance may, without restriction, sell, exchange, transfer, hold, or surrender to the Administrator, the emission allowance. (b) Identification numbers The Administrator shall assign to each emission allowance a unique identification number. (c) Legal status of emission allowances (1) In general An emission allowance distributed by the Administrator under this title does not constitute a property right. (2) Termination or limitation Nothing in this Act or any other provision of law shall be construed to limit or alter the authority of the United States to terminate or limit emission allowances. (3) Other provisions Except as otherwise specified in this Act, nothing in this Act relating to emission allowances distributed under this title shall affect the application of any other provision of law to a covered entity, or the responsibility for a covered entity to comply with any such provision of law. (d) Effectiveness of emission allowance transfers No transfer of an emission allowance shall be effective for purposes of this title until a certification of the transfer, signed by the designated representative of the transferor, is received and recorded by the Administrator in accordance with regulations promulgated under section 729. 724. Voluntary program participation (a) Voluntary program participation as qualified electric facility (1) In general A generator that produces electricity with a rated capacity of less than 2 megawatts may, in accordance with this subsection, elect to be classified as a qualified electric facility for purposes of this title. (2) Qualification In order for a generator with a rated capacity of less than 2 megawatts to be classified as a qualified electric facility, the generator shall— (A) submit a notification to the Administrator of the intention of the generator to elect to be classified as a qualified electric