{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-rights-of-action-regulations-2001/regulation-5",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-rights-of-action-regulations-2001/regulation-5.json",
  "legislation": "uksi/2001/2256",
  "legislation_title": "The Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-rights-of-action-regulations-2001",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Prohibition orders and performance of a controlled function",
  "text": "(1) The definition of “private person” in regulation 3 is prescribed for the purposes of section 71(3) of the Act (and so the contravention of section 56(6) or 59(1) or (2) of the Act is actionable at the suit of a person who falls within that definition and who suffers loss as a result of that contravention).\n(2) A case where the condition specified by paragraph (3) is satisfied is prescribed for the purposes of section 71(2) of the Act (and so in such a case the contravention of section 56(6) or 59(1) or (2) of the Act is actionable at the suit of a person who is not a private person).\n(3) The condition specified by this paragraph is that the action would be brought at the suit of a person (who is not a private person) acting in a fiduciary or representative capacity on behalf of a private person and any remedy would be exclusively for the benefit of that private person and could not be effected through an action brought otherwise than at the suit of the fiduciary or representative.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 5 in force at 1.12.2001 in accordance with, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/2256/regulation/5",
    "retrieved_at": "2026-10-29T07:45:40.808050+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}