Part X Rules and Guidance
Chapter I Rule-making Powers
Contravention of rules
150 Actions for damages.
(1)
A contravention by an authorised person of a rule 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)
If rules so provide, subsection (1) does not apply to contravention of a specified provision of those rules.
(3)
In prescribed cases, a contravention of a rule which would be actionable at the suit of a private person is actionable at the suit of a person who is not a private person, subject to the defences and other incidents applying to actions for breach of statutory duty.
(4)
In subsections (1) and (3) “rule” does not include—
(a)
F1Part 6 rules; or
(b)
a rule requiring an authorised person to have or maintain financial resources.
(5)
“Private person” has such meaning as may be prescribed.