Paragraph 17 Compensation for qualifying contractual liability
England and Wales
Subject to paragraph 18 below, the amount payable to an entitled applicant in respect of any qualifying contractual liability sustained by him shall be either—
(a)
the amount of any judgment or arbitral award made against an entitled applicant in respect of any contractual liability sustained by an entitled applicant as a result of having ceased, by reason of the enactment or coming into force of section 1 of the Act, to carry on a qualifying business; or
(b)
the amount of any reasonable settlement made by an entitled applicant in respect of a claim against him for such contractual liability.