Textual Amendments
F1Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)
53.—(1) In this regulation “unlawful marketing” means the marketing of an AIF—
(a)by an authorised person that is an AIFM or an investment firm in contravention of regulation 49, 50 or 51; or
(b)by an authorised person that is an AIFM in contravention of a provision of the EuSEF Regulation or the EuVECA Regulation.
F2(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) Unlawful marketing is actionable at the suit of a private person who suffers loss as a result of such marketing, subject to the defences and other incidents applying to actions for breach of statutory duty.
(3) Section 168 of the Act (appointment of persons to carry out investigations in particular cases) applies as if the reference at subsection (2)(c) to a contravention of section 238 of the Act included reference to unlawful marketing.]
Textual Amendments
F2Reg. 53(1)(c) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 9(7)