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Regulation 2 Requirements of an agreement

Original text. Later amendments are not shown.

The requirements prescribed for the purposes of section 58AA(4)(c) of the Act are that the terms and conditions of a damages-based agreement must specify—

(a)

the claim or proceedings or parts of them to which the agreement relates;

(b)

the circumstances in which the representative’s payment, expenses and costs, or part of them, are payable; and

(c)

the reason for setting the amount of the payment at the level agreed, including having regard to, where appropriate, whether the claim or proceedings is one of several similar claims or proceedings.