P044

Formal title: Correction of Notification Errors where Parties are able to satisfy a Reasonable and Prudent Operator Test.

Current Status

Submission
Initial Written Assessment
Assessment Procedure
Report Phase
With Authority
Awaiting Implementation
Implemented

Summary

This prospective proposal seeks to allow BSC Parties, to apply to the BSC Panel requesting the ex post creation of ECVNs/MRVNs or amendment of a previously submitted ECVN/MRVN in specific circumstances including where Parties are unable to check submitted data where reports are not received from the ECVAA showing within day notifications and contracted positions; where the claimant can demonstrate beyond all reasonable doubt that it had taken all reasonable steps to prevent notification errors happening and to minimise the impact of errors should they actually occur; the claim is supported by both parties in the case of inter-company transactions and a Director/Company Secretary in the case of intra-company transactions; claims are submitted within clearly defined timescales and subject to a non-returnable administration fee of £5,000.

Progression

The Authority rejected both the Proposed and Alternative Modifications on 10 May 2002.

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