(1)This section applies to—
(a)a judgment on a relevant claim given by a court in the United Kingdom before commencement,
(b)a foreign judgment given (whether before or after commencement) on a relevant claim, and
(c)an award made (whether before or after commencement) on a relevant claim in an arbitration (conducted under any laws).
(2)“Relevant claim” means—
(a)a claim for, or relating to, a qualifying debt, or
(b)a claim under an agreement compromising a claim within paragraph (a).
(3)The amount of the judgment or award is to be treated as equal to the amount it would be if the court, tribunal or arbitrator had applied section 3 in relation to the relevant claim.
(4)Subsection (3) does not apply in relation to a claim if the effect of it so applying would be to increase the amount of the judgment or award.
(5)In this section—
“judgment” includes an order (and references to the giving of a judgment are to be read accordingly), and
“foreign judgment” means a judgment (however described) of a court or tribunal of a country outside the United Kingdom, and includes anything (other than an arbitration award) which is enforceable as if it were such a judgment.
(6)This section applies to anything that gives effect to a compromise of a relevant claim as if in subsection (3) after “if” there were inserted “the relevant claim had not been compromised and”.