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PART 1SUCCESS FEE AGREEMENTS

1Success fee agreements

(1)In this Part, a “success fee agreement” is an agreement between a person providing relevant services (the “provider”) and the recipient of those services (the “recipient”) under which the recipient—

(a)is to make a payment (the “success fee”) to the provider in respect of the services if the recipient obtains a financial benefit in connection with a matter in relation to which the services are provided, but

(b)is not to make any payment, or is to make a payment of a lower amount than the success fee, in respect of the services if no such benefit is obtained.

(2)In this section—

(3)In this Part, the following terms, in relation to a success fee agreement, are to be construed in accordance with this section—