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The Cross-Border Credit Transfers Regulations 1999

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Civil proceedings

13.—(1) The obligation to comply with the following regulations is, in each case, a duty owed by the originator’s institution to the originator and any breach of the obligation shall be actionable accordingly—

(a)regulation 5(1);

(b)regulation 8(4)(b); and

(c)regulation 9(5).

(2) The obligation to comply with regulation 10(3) is a duty owed by an intermediary institution to the originator and any breach of the obligation shall be actionable accordingly.

(3) The obligation to comply with regulation 8(5)(b) is a duty owed by an intermediary institution to the originator’s institution and any breach of the obligation shall be actionable accordingly.

(4) The obligation to comply with regulation 5(4) is a duty owed by the beneficiary’s institution to the beneficiary and any breach of the obligation shall be actionable accordingly.

(5) Any amount which becomes payable pursuant to regulation 6(3), 6(6), 6(7), 7(3), 8(4)(a), 8(5)(a), 8(6), 9(2), 9(6), 10(1), 10(4) or 11(1) shall be recoverable as a civil debt.

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