PART 7GENERAL

Actions for breach of requirements

Right to bring actions72

1

A contravention—

a

which is to be taken to have occurred by virtue of regulation 18;

b

of a requirement imposed by regulation 20, 21, 22 or 24; or

c

of a requirement imposed by or under Part 5,

is actionable at the suit of a private person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.

2

A person acting in a fiduciary or representative capacity may bring an action under paragraph (1) on behalf of a private person if any remedy—

a

will be exclusively for the benefit of the private person; and

b

cannot be obtained by way of an action brought otherwise than at the suit of the fiduciary or representative.

3

In this regulation “private person” means—

a

any individual, except where the individual suffers the loss in question in the course of issuing electronic money or providing payment services; and

b

any person who is not an individual, except where that person suffers the loss in question in the course of carrying on business of any kind,

but does not include a government, a local authority (in the United Kingdom or elsewhere) or an international organisation.

Prohibition on contracting-out73

A term contained in an agreement between an electronic money issuer and an electronic money holder or a payment service user is void if, and to the extent that, it is inconsistent with a provision for the protection of an electronic money holder or a payment service user contained in these Regulations or the Payment Services Regulations F12017.