P417 ‘Move the Letter of Credit templates and Approved Insurance Product requirements to the BSC Website’

The Panel agreed to send P417 for a 20 Working Day Report Phase Consultation. We issued the Consultation on 22 December 2020 with responses invited by 22 January 2021. No responses were received to the Consultation. The Panel considered P417 at its meeting on 11 March 2021. The BSC Panel: 

• DETERMINED (in the absence of an Ofgem Direction) that P417 is a Self-Governance Modification Proposal; and
• REJECTED P417

The BSC Panel raised P417 on 10 December 2020. This Modification was presented to the Panel on 10 December 2020 where they agreed to raise the Modification and send it directly to the Report Phase. The Panel:

• Agreed that this Modification does not impact the EBGL Article 18 terms and conditions held within the BSC;
• Agreed an initial recommendation that this Modification should be approved;
• Agreed an initial Implementation Date of 1 April 2021
• Agreed the draft legal text; and
• Agreed an initial view that this Modification should be treated as a Self-Governance Modification.