  A novel test of time-reversal invariance in proton-deuteron scattering is
planned as an internal target transmission experiment at the cooler synchrotron
COSY. The P-even, T-odd observable is the polarization correlation $A_{y,xz}$
of the total cross section measured using a polarized internal proton beam
(polarization $p_y$) and an internal polarized deuterium target (tensor
polarization $p_{xz}$). Measuring this observable is a true null test of time
reversal invariance and therefore allows to reach a high accuracy. Sufficient
luminosity can be obtained using a window-less storage cell placed on the axis
of the proton beam. Tensor polarized atoms are produced in an atomic beam
source based on Stern-Gerlach separation in permanent sextupole magnets and
adiabatic high frequency transitions. The total cross section correlation is
measured by monitoring the beam transmission in the COSY storage ring mode of
operation. The proton beam momentum will be in the range 2-3 GeV/c. This
momentum is ideally suited to test possible short range contributions, i.e.
natural parity charged $\rho$-type and unnatural parity $a_1$-type meson
exchange contributions. The feasibility of the experiment, systematic errors
and the expected accuracy are discussed.
