[142G Ring-fenced bodies not to carry on excluded activities or contravene prohibitions]
[142G Ring-fenced bodies not to carry on excluded activities or contravene prohibitions]

[(1)     A ring-fenced body which—

(a)     carries on an excluded activity or purports to do so, or

(b)     contravenes any provision of an order under section 142E,

is to be taken to have contravened a requirement imposed on the body by the appropriate regulator under this Act.

(2)     The contravention does not—

(a)     make a person guilty of an offence;

(b)     make a transaction void or unenforceable;

(c)     (subject to subsection (3)) give rise to any right of action for breach of statutory duty.