SCHEDULES

SCHEDULE 4The Payment Systems Regulator

Exemption from liability in damages

I1C1C214

1

None of the following is to be liable in damages for anything done or omitted in the discharge, or purported discharge, of the Regulator's functions—

a

the Regulator;

b

any person (“P”) who is, or is acting as, an officer or member of staff of the Regulator;

c

any person who could be held vicariously liable for things done or omitted by P, but only in so far as the liability relates to P's conduct.

2

If the Regulator has made arrangements under paragraph 5 for any of its functions to be discharged by an officer or member of staff of the FCA, references in sub-paragraph (1) to a person who is an officer or member of staff of the Regulator include references to the officer or member of staff of the FCA.

3

Anything done or omitted by a person mentioned in sub-paragraph (1)(b) or (c) while acting, or purporting to act, as a result of an appointment under section 82 or 83 is to be taken for the purposes of sub-paragraph (1) to have been done or omitted in the discharge or (as the case may be) purported discharge of the Regulator's functions.

4

Sub-paragraph (1) does not apply—

a

if the act or omission is shown to have been in bad faith, or

b

so as to prevent an award of damages made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) of the Human Rights Act 1998.