In May 2022, the European Payments Council (EPC) published the updated version 1.2 of the 2021 SEPA Instant Credit Transfer (SCT Inst) rulebook. The version 1.2 has no specific impact on the business and operational rules compared to the versions 1.0 and 1.1 of the 2021 SCT Inst rulebook.
The version 1.2 of the 2021 SCT Inst rulebook includes an updated version of the SEPA Payment Scheme Management Rules. These rules now reflect a new composition formula to be applied as of 25 April 2023 for allocating the seats of scheme participant-related members of the Scheme Management Board (SMB) with more seats being reserved for the scheme participant-related SMB members. As of 25 April 2023, the SMB will also be renamed into the PSMB (Payment Scheme Management Board).
The 2021 SCT Inst rulebook version 1.2 enters into force on 25 April 2023 08:00 CET and remains in effect up to 28 November 2023 08:00 CET. Annex IV of the 2021 SCT Inst rulebook version 1.2 lists all changes compared to the versions 1.0 and 1.1 of the 2021 SCT Inst rulebook.