(1) A compensation order is an order requiring the person against whom it is made to pay an amount specified in the order -

(a) to the Secretary of State for the benefit of -

(i) a creditor or creditors specified in the order;

(ii) a class or classes of creditor so specified;

(b) as a contribution to the assets of a company so specified.

(2) A compensation undertaking is an undertaking to pay an amount specified in the undertaking -

(a) to the Secretary of State for the benefit of -

(i) a creditor or creditors specified in the undertaking;

(ii) a class or classes of creditor so specified;

(b) as a contribution to the assets of a company so specified.

(3) When specifying an amount the court (in the case of an order) and the Secretary of State (in the case of an undertaking) must in particular have regard to -

(a) the amount of the loss caused;

(b) the nature of the conduct mentioned in section 15A(3)(b);