C3 Part XVIII Recognised Investment Exchanges and Clearing Houses

Annotations:
Modifications etc. (not altering text)

Chapter I Exemption

Applications for recognition

C1C2291 Liability in relation to recognised body’s regulatory functions.

1

A recognised body and its officers and staff are not to be liable in damages for anything done or omitted in the discharge of the recognised body’s regulatory functions unless it is shown that the act or omission was in bad faith.

2

But subsection (1) does not 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 M1Human Rights Act 1998.

3

“Regulatory functions” means the functions of the recognised body so far as relating to, or to matters arising out of, the obligations to which the body is subject under or by virtue of this Act.