Damages Act 1996
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Change 1
A1 Assumed rate of return on investment of damages: England and Wales
(1) In determining the return to be expected from the investment of a sum awarded as damages for future pecuniary loss in an action for personal injury the court must, subject to and in accordance with rules of court made for the purposes of this section, take into account such rate of return (if any) as may from time to time be prescribed by an order made by the Lord Chancellor. (2) Subsection (1) does not however prevent the court taking a different rate of return into account if any party to the proceedings shows that it is more appropriate in the case in question. (3) An order under subsection (1) may prescribe different rates of return for different classes of case. (4) An order under subsection (1) may in particular distinguish between classes of case by reference to— (a) the description of future pecuniary loss involved; (b) the length of the period during which future pecuniary loss is expected to occur; (c) the time when future pecuniary loss is expected to occur. (5) Schedule A1 (which makes provision about determining the rate of return to be prescribed by an order under subsection (1)) has effect. (6) An order under this section is to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
A1 Assumed rate of return on investment of damages: England and Wales
(1) In determining the return to be expected from the investment of a sum awarded as damages for future pecuniary loss in an action for personal injury the court must, subject to and in accordance with rules of court made for the purposes of this section, take into account such rate of return (if any) as may from time to time be prescribed by an order made by the Lord Chancellor. (2) Subsection (1) does not however prevent the court taking a different rate of return into account if any party to the proceedings shows that it is more appropriate in the case in question. (3) An order under subsection (1) may prescribe different rates of return for different classes of case. (4) An order under subsection (1) may in particular distinguish between classes of case by reference to— (a) the description of future pecuniary loss involved; (b) the length of the period during which future pecuniary loss is expected to occur; (c) the time when future pecuniary loss is expected to occur. (5) Schedule A1 (which makes provision about determining the rate of return to be prescribed by an order under subsection (1)) has effect. (6) An order under this section is to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
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