Part 1: Regulatory Framework Designated activities regime Section 8: Designated activities New section 71P: Designated activities: liability
This section sets out that designated activities regulations can make regulations concerning liability and compensation.
	Subsection (2) states that a contravention of a designated activity rule or regulation does not make a person guilty of an offence, or make transactions void or unenforceable, or give rise to action for breach of statutory duty, unless designated activity regulations explicitly state otherwise.
	Subsection (3) gives examples of how HM Treasury may use its power under subsection (1).
	Subsection (3)(d) clarifies that HM Treasury may make such regulations for the purpose of subsection (1) by applying, and if needed modifying, existing provisions of FSMA 2000.