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Status: You are viewing the version of the handbook as on 2009-03-31.

ELM Sch 5 Rights of action for damages

ELM Sch 5.1G

1

The table below sets out the rules in ELM contravention of which by an authorised person may be actionable under section 150 of the Act (Actions for damages) by a person who suffers loss as a result of the contravention.

2

If a "Yes" appears in the column headed "For private person?", the rule may be actionable by a "private person" under section 150 (or, in certain circumstances, his fiduciary or representative). A "Yes" in the column headed "Removed?" indicates that the FSA has removed the right of action under section 150(2) of the Act. If so, a reference to the rule in which it is removed is also given.

3

The column headed "For other person?" indicates whether the rule is actionable by a person other than a private person (or his fiduciary or representative). If so, an indication of the type of person by whom the rule is actionable is given.

ELM Sch 5.2G

Chapter/Appendix

Section/Annex

Paragraph

Rights of action under section 150

For private person?

Removed?

For other person

All rules in ELM 6

Yes

No

No

All rules in ELM 8

Yes (note)

No

No

All other rules in ELM

No

Yes, ELM 1.6.1 R

No

Note: the effect of article 9G(3) of the Regulated Activities Order is that the rules in ELM 8.7 are also actionable against a small e-money issuer (which is not an authorised person).