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Paragraph 12 Modification to section 138D (actions for damages)

Original text. Later amendments are not shown.

Section 138D (actions for damages)f1 applies as if—

(a)

in subsection (2), for “an authorised person” there was substituted “a registered person”;

(b)

in subsection (4), “(1) or” was omitted;

(c)

subsection (5) was omitted;

(d)

“(and so the contravention by an authorised person of a rule is actionable at the suit of a person who falls within that definition and who suffers loss as a result of that contravention)” was omitted from regulation 6 (rules) of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001.

Annotations

Footnotes

f1

Section 138D was inserted by section 24(1) of the Financial Services Act 2012 and amended by paragraph 8 of Schedule 3 to the Financial Services (Banking Reform) Act 2013 and S.I. 2013/1388.