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Financial Services (Banking Reform) Act 2013

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Changes over time for: Cross Heading: Exemption from liability in damages

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Version Superseded: 01/01/2024

Status:

Point in time view as at 09/12/2019.

Changes to legislation:

Financial Services (Banking Reform) Act 2013, Cross Heading: Exemption from liability in damages is up to date with all changes known to be in force on or before 06 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Exemption from liability in damagesU.K.

14(1)None of the following is to be liable in damages for anything done or omitted in the discharge, or purported discharge, of the Regulator's functions—U.K.

(a)the Regulator;

(b)any person (“P”) who is, or is acting as, an officer or member of staff of the Regulator;

(c)any person who could be held vicariously liable for things done or omitted by P, but only in so far as the liability relates to P's conduct.

(2)If the Regulator has made arrangements under paragraph 5 for any of its functions to be discharged by an officer or member of staff of the FCA, references in sub-paragraph (1) to a person who is an officer or member of staff of the Regulator include references to the officer or member of staff of the FCA.

(3)Anything done or omitted by a person mentioned in sub-paragraph (1)(b) or (c) while acting, or purporting to act, as a result of an appointment under section 82 or 83 is to be taken for the purposes of sub-paragraph (1) to have been done or omitted in the discharge or (as the case may be) purported discharge of the Regulator's functions.

(4)Sub-paragraph (1) does not apply—

(a)if the act or omission is shown to have been in bad faith, or

(b)so as to prevent an award of damages made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) of the Human Rights Act 1998.

Modifications etc. (not altering text)

C2Sch. 4 paras. 9-14 applied (with modifications) (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), regs. 1(6), 136(3) (with reg. 3)

Commencement Information

I1Sch. 4 para. 14 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

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