Izba Rozliczeniowa Giełd Towarowych S.A. (Warsaw Commodity Clearing House, “IRGiT”) has amended the Detailed Clearing and Settlement Rules of the Exchange Clearing House, which resulted from the planned coming into force of the Act amendment certain other acts in order to strengthen the state’s gas security in connection with the situation on the gas market (“Act”). The amendments refer in particular to the rules for recognizing collateral provided in the form of a statement of submitting to enforcement following the procedure under Article 777 § 1 item 5 of the Act of 17 November 1964 – Code of Civil Procedure.
Additionally, the new version of the Detailed Clearing and Settlement Rules of the Exchange Clearing House incorporates:
- more detailed rules for accepting bank guarantees from the bank acting as the Settlement Bank;
- changes in the rules for withdrawal of funds from Transaction Margins and refunding Guarantee Fund’s resources in situations threatening to the security of clearing.
- other detailed amendments.
The above amendments will come into effect as of 1 September 2022.