P414 Report Phase Consultation

Who will this impact?

P414 ‘Allowing a Party to Withdraw from the BSC and transfer outstanding liabilities to another Party’ seeks to improve the BSC exit arrangements. It will allow a BSC Party to withdraw from the Code as soon as practicable after serving a notice of withdrawal provided that all liabilities under the Code are satisfied or transferred to another BSC Party through a transfer of its BSC party ID to that legal entity.