F1SCHEDULE 1ZBThe Prudential Regulation Authority
PART 4Miscellaneous
Exemption from liability in damages
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(1)
None of the following is to be liable in damages for anything done or omitted in the discharge, or purported discharge, of the PRA's functions—
(a)
the PRA;
(b)
any person (“P”) who is, or is acting as, a member, officer or member of staff of the PRA;
(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.
F2(1A)
In sub-paragraph (1) the reference to the PRA's functions includes its functions under Part 5 of the Financial Services (Banking Reform) Act 2013 (regulation of payment systems).
(2)
Anything done or omitted by a person mentioned in sub-paragraph (1)(a) or (b) while acting, or purporting to act, as a result of an appointment under any of sections 97, 166 to 169 and 284 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 PRA's functions.
(3)
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.
Accredited financial investigators
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For the purposes of this Act anything done by an accredited financial investigator within the meaning of the Proceeds of Crime Act 2002 who—
(a)
is, or is acting as, an officer of, or member of the staff of, the PRA, or
(b)
is appointed by the PRA under section 167 or 168 to conduct an investigation,
is to be treated as done in the exercise or discharge of a function of the PRA.
Amounts required by rules to be paid to the PRA
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Any amount (other than a fee) which is required by rules to be paid to the PRA may be recovered as a debt due to the PRA.