Amendments that came into effect on 21 October 2024,
approved in Resolution No.
958/2024 of 30 September 2024.
The amendments mainly concern gaining access to KDPW’s online applications available on the Service Portal
https://online.kdpw.pl. The amendments impose an obligation on participants to appoint a permission administrator responsible for managing the participant’s access (in the case of direct participants - for all types of activity and all types of participation status under which they operate in the depository system) to KDPW’s web applications assigned to one of the three separate groups of services set out in the Detailed Rules of Operation of KDPW.
Only the permission administrator may grant other persons any access permissions currently assigned to the two existing access functions: the user function and the administrator function, in respect of the individual applications covered by a group of services. Participants will be required to appoint at least one person as a permission administrator for each group of applications covering at least one application to which they should have access.
Furthermore, the rules for accessing the Benefit Payment application will be amended for issuers which are closed-end investment funds. At this time, each fund gets separate access to the Benefit Payment application, even if it acts through the same person who has been authorised to access this application on behalf of other funds managed and represented by the same investment fund management company. Under the new access rules, closed-end investment funds acting as issuers will access the Benefit Payment application through persons appointed by the investment fund management company duly authorised to represent them, and such persons will get access to these applications enabling them to act on behalf of all funds managed and represented by that company. Consequently, a group of investment funds managed and represented by the same company will appoint a common permission administrator referred to above for the applications covered by the group of services attributed to closed-end investment funds acting as issuer.
The other amendments include:
1/ adding a provision which sets out the hours for receipt by KDPW S.A. of correspondence sent to KDPW S.A. by electronic mail;
2/ clarification of the provisions concerning the rules followed by KDPW S.A. when processing redemptions of bonds executed after their maturity (pursuant to Article 8(6) and (7) of the Bond Act);
3/ adding a new operation code (no. 19) in Appendix 2 in order to address the proposal of the S&R NMPG.
Detailed Rules of Operation 16.09.2024 - 20.10.2024
