This might be useful
http://www.pprune.org/atc-issues/206...tions-law.html
The bit that says "A licence is not required for a radio receiver as long as it is not capable of transmission as well" would tend to suggest that it would be illegal to use it without a FRTOL regardless of whether you were transmitting or not as it is "capable of transmission".
Of course there is no restriction on owning it, anyone can buy one, it would just be illegal to use it!