314   Additional disclosure—uplift fees

(1)  If a costs agreement involves an uplift fee, the law practice must, before entering into the agreement, disclose to the client in writing:

(a)  the law practice’s legal costs, and

(b)  the uplift fee (or the basis of calculation of the uplift fee), and

(c)  the reasons why the uplift fee is warranted.

(2)  A law practice is not required to make a disclosure under subsection (1) to a sophisticated client.