Part X Rules and Guidance
Chapter I Rule-making Powers
Contravention of rules
149 Evidential provisions.
C11
If a particular rule so provides, contravention of the rule does not give rise to any of the consequences provided for by other provisions of this Act.
C22
A rule which so provides must also provide—
a
that contravention may be relied on as tending to establish contravention of such other rule as may be specified; or
b
that compliance may be relied on as tending to establish compliance with such other rule as may be specified.
C23
A rule may include the provision mentioned in subsection (1) only if the Authority considers that it is appropriate for it also to include the provision required by subsection (2).
C3I1C4C5C6150 Actions for damages.
1
A contravention by an authorised person of a rule is actionable at the suit of a private person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.
2
If rules so provide, subsection (1) does not apply to contravention of a specified provision of those rules.
3
In prescribed cases, a contravention of a rule which would be actionable at the suit of a private person is actionable at the suit of a person who is not a private person, subject to the defences and other incidents applying to actions for breach of statutory duty.
4
In subsections (1) and (3) “rule” does not include—
a
listing rules; or
b
a rule requiring an authorised person to have or maintain financial resources.
5
“Private person” has such meaning as may be prescribed.
151 Limits on effect of contravening rules.
1
A person is not guilty of an offence by reason of a contravention of a rule made by the Authority.
2
No such contravention makes any transaction void or unenforceable.