29Limits on minimum amounts

#### 29 Limits on minimum amounts Where the insured knew, or a reasonable person in the circumstances would have known, that a particular amount is the maximum amount that would be payable by the insurer under the contract of insurance whatever the circumstances, then, in relation to a claim under that contract, the minimum amount for the purposes of section 34 of the Act shall be the first‑mentioned amount or the amount declared by the relevant provision of these Regulations to be the minimum amount in respect of the claim, whichever is the less.