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 in particular from the planned coming into force of the Act on special solutions protecting electricity consumers in 2023 in connection with the situation on the electricity market (“Act”), involving the change of:
- the parameter 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 and a surety extended by a company that is a parent company of the Clearing House Member for which such surety is extended, secured with a statement of submitting to enforcement,
- the catalog of entities that may provide a statement of submitting to enforcement as non-cash collateral.
The amendments also affect the rules for removing surety agreements secured with a bank guarantee from the Non-Cash Collateral Register.
The above amendments will come into effect on the date the Act comes into force.