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The Damages-Based Agreements Regulations 2010
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This is a draft item of legislation and has not yet been made as a UK Statutory Instrument. This draft has been replaced by a new draft, The Damages-Based Agreements Regulations 2010 ISBN 978-0-11-149652-7
Requirements of an agreement
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2. 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.
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