329B.—(1) In a case where—
the agreement mentioned in paragraph (d) above is for the purposes of this section a qualifying agreement.
- (a) an agreement is made settling a claim or action for damages for personal injury,
- (b) under the agreement the damages are to consist wholly or partly of periodical payments,
- (c) the person against whom the claim or action is brought (or, if he is insured against the claim concerned, his insurer) purchases one or more annuities, and
- (d) a later agreement is made under which the annuity is, or the annuities are, assigned in favour of the person entitled to the payments so as to secure that from a future date he receives the payments as the annuitant under the annuity or annuities,