Market arrangements code aligned with MOSL articles of association

Ofwat has approved an amendment to the Market Arrangements Code to align it with MOSL’s recently amended Articles of Association.

CPM028, for implementation on 1 September, brings the MAC into line with governance changes at MOSL including the removal of the five-year industry restriction for the board chair; amending the term of the elected directors from two to three years; and measures to introduce modernised voting.