(1) Contravention of a requirement imposed by a regulator under this Part does not -
(a) make a person guilty of an offence;
(b) make any transaction void or unenforceable; or
(c) (subject to subsection (2)) give rise to any right of action for breach of statutory duty.
(2) In prescribed cases the contravention is actionable at the suit of a person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.