The CIA TOD only stores the time but not the date. Therefore the date set by clock_settime() ist just stored inside the C library for retrieval via clock_gettime().
The "very special" handling of 12AM/PM is based on https://groups.google.com/d/msg/comp.sys.cbm/ysVYSX4AMbc/vHrXCWEhCOUJ saying:
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24hr: Wr => Rd => Nx
--------------------
0 : 92 => 12 => 01 <= Switch from 00 to 01 (24-hour notation)
1 : 01 => 01 => 02
2 : 02 => 02 => 03
11 : 11 => 11 => 92
12 : 12 => 92 => 81 <= Switch from 12 to 13 (24-hour notation)
13 : 81 => 81 => 82
14 : 82 => 82 => 83
23 : 91 => 91 => 12
1. column ("24hr"): hour to be tested (decimal)
2. column ("Wr"): hour written to TOD register (BCD)
3. column ("Rd"): hour read from TOD register (BCD) immediately after writing the value in column 2 to see the conversion between AM/PM, if any
4. column ("Nx"): next hour (BCD) after the hour switch
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Thanks Paul!