(1) This section applies to an agreement that -
(a) is entered into in the course of carrying on a credit-related regulated activity, and
(b) is unenforceable because of section 26, 26A or 27.
(2) The amount of compensation recoverable as a result of that section is -
(a) the amount agreed by the parties, or
(b) on the application of either party, the amount specified in a written notice given by the FCA to the applicant.
(3) If on application by the relevant firm the FCA is satisfied that it is just and equitable in the circumstances of the case, it may by written notice to the applicant allow -
(a) the agreement to be enforced, or
(b) money paid or property transferred under the agreement to be retained.
(4) In considering whether to allow the agreement to be enforced or (as the case may be) the money or property paid or transferred under the agreement to be retained the FCA must -
(a) if the case arises as a result of section 26 or 26A, have regard to the issue mentioned in subsecti
…