P394 ‘Removal of Unused BSC Provisions’
Formal title: Removal of Unused BSC Provisions
P394 seeks to remove text from the BSC which relates to provisions that have been identified as unused or expired. The provisions are:
- Dual Notifications;
- Joint BM Units;
- Party and NETA Funding;
- BSC Section I ‘Transitional Arrangements for the Implementation of BETTA’;
- Pool Supplement;
- Manual Credit Qualification; and
- BSCP534 ‘PARMS Techniques’
Over the lifetime of the BSC, there have been a number of provisions introduced that have since become redundant. These include provisions that were never called upon by Parties, fully developed and therefore left unused, and transitional arrangements that have now expired.
Listen to our podcast below to find out more about Removal of Unused BSC Provisions:
The BSC Panel Raised Modification P394 at its meeting on 10 October 2019.
The Report Phase Consultation wasbe issued 14 October with responses due 22 November 2019.