Regulation 9 Civil liability for breaches of designated activity rulesI1I2

A contravention of a designated activity rule made by virtue of regulation 6 is actionable at the suit of a retail investor who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.

If designated activity rules made by virtue of regulation 6 so provide, paragraph (1) does not apply to a contravention of a specified provision of the rules.