202 Contravention of requirement imposed under this Part.U.K.
(1)Contravention of a requirement imposed by [F1a regulator] under this Part does not—
(a)make a person guilty of an offence;
(b)make any transaction void or unenforceable; or
(c)(subject to subsection (2)) give rise to any right of action for breach of statutory duty.
(2)In prescribed cases the contravention is actionable at the suit of a 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.
Textual Amendments
F1Words in s. 202(1) substituted (27.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 4 para. 43 (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.
Commencement Information
I1S. 202 wholly in force at 3.9.2001; s. 202 not in force at Royal Assent see s. 431(2); s. 202(2) in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b), Sch. Pt. 2; s. 202 in so far as not already in force at 3.9.2001 by S.I. 2001/2632, art. 2(2), Sch. Pt. 2