14(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—U.K.
(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.
Modifications etc. (not altering text)
C1Sch. 4 paras. 5, 7, 9-14 applied (with modifications) (9.12.2015) by The Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911), regs. 1, 15(3) (as amended (1.1.2024) by The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023 (S.I. 2023/790), reg. 3(10))
C2Sch. 4 paras. 9-14 applied (with modifications) (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), regs. 1(6), 136(3) (with reg. 3)
Commencement Information
I1Sch. 4 para. 14 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1