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Financial Services and Markets Act 2000
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Changes over time for: Section 138E
Version Superseded: 01/07/2021
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Financial Services and Markets Act 2000, Section 138E is up to date with all changes known to be in force on or before 22 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.
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[F1138ELimits on effect of contravening rulesU.K.
This section has no associated Explanatory Notes
(1)A person is not guilty of an offence by reason of a contravention of a rule made by either regulator.
(2)No such contravention makes any transaction void or unenforceable.
(3)Subsection (2) does not apply in relation to—
(a)rules made by the FCA under section 137C, F2...
(b)product intervention rules made by the FCA under section 137D [F3[F4or]
(c)rules made by the FCA under section 137FBB] [F5or
(d)rules made by the FCA under section 137FD].]
Textual Amendments
F1Pt. 9A substituted for ss. 138-164 (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 24(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
F2Word in s. 138E(3)(a) omitted (6.7.2016) by virtue of Bank of England and Financial Services Act 2016 (c. 14), ss. 35(3)(a), 41(3); S.I. 2016/627, reg. 2(1)(z)
F3S. 138E(3)(c) and word inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 35(3)(b), 41(3); S.I. 2016/627, reg. 2(1)(z)
F4Word in s. 138E(3)(b) omitted (E.W.S.) (29.3.2019) by virtue of Financial Guidance and Claims Act 2018 (c. 10), ss. 28(3)(a), 37(5); S.I. 2019/743, reg. 2(a)
F5S. 138E(3)(d) and word inserted (E.W.S.) (29.3.2019) by Financial Guidance and Claims Act 2018 (c. 10), ss. 28(3)(b), 37(5); S.I. 2019/743, reg. 2(a)
Modifications etc. (not altering text)
C1Pt. 9A Ch. 2 applied (with modifications) by S.I. 2011/99, Sch. 3 para. 2A(2)(3) (as inserted (13.8.2017 for specified purposes, 13.10.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(c)(iii)(3)(f)(i)(6), Sch. 8 para. 5(31)(a) (with reg. 3))
C2Pt. 9A Ch. 2 applied (with modifications) (13.8.2017 for specified purposes, 13.1.2018 in so far as not already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(b)(ii)(6), Sch. 6 para. 3(2) (with reg. 3)
C3S. 138E applied (with modifications) by 2013 c. 13, s. 97D(2)(3) (as inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(4))
C4S. 138E applied (with modifications) by 2013 c. 13, Sch. 4 para. 9A(5)(6) (as inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(5)(c))
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