- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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Damages Act 1996, Section B1 is up to date with all changes known to be in force on or before 10 July 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(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, a court must take into account the rate of return set by the official rate-assessor.
(2)However—
(a)the court is to do so subject to and in accordance with rules of court (if any) made for the purpose of subsection (1),
(b)the court may take a different rate of return into account if a party to the action shows that the different rate is more appropriate in the circumstances of the case.
(3)Schedule B1 contains provision about setting the rate of return for the purpose of subsection (1).
(4)In subsection (1), the reference to the official rate-assessor is to—
(a)if no regulations under paragraph (b) are in force, the Government Actuary (but, when that office is vacant, the Deputy Government Actuary), or
(b)a person appointed in place of the Government Actuary (including the Deputy as referred to in paragraph (a)) by regulations made by the Scottish Ministers.
(5)Regulations under subsection (4)(b) may provide for a person to deputise for the person appointed in place of the Government Actuary.
(6)Before making regulations under subsection (4)(b), the Scottish Ministers must obtain the agreement of—
(a)as respects appointment in place of the Government Actuary, the person to be appointed,
(b)as respects deputising as mentioned in subsection (5), the person who is to deputise as provided for.
(7)Regulations under subsection (4)(b) are subject to the affirmative procedure.]
Textual Amendments
F1S. B1 inserted (S.) (1.7.2019) by Damages (Investment Returns and Periodical Payments) (Scotland) Act 2019 (asp 4), ss. 1(1), 9(2); S.S.I. 2019/197, reg. 2
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