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Statutory Instruments
DAMAGES, ENGLAND AND WALES
Made
28th November 2024
Laid before Parliament
2nd December 2024
Coming into force
11th January 2025
The Lord Chancellor makes the following Order in exercise of the power conferred by section A1(1) of the Damages Act 1996(1), having reviewed and determined the rate of return in accordance with paragraph 3 of Schedule A1 to that Act.
1.—(1) This Order may be cited as the Damages (Personal Injury) (England and Wales) Order 2024 and comes into force on 11th January 2025.
(2) This Order extends to England and Wales only.
2. The prescribed rate of return referred to in section A1(1) of the Damages Act 1996 is 0.5%.
Shabana Mahmood
Lord Chancellor
28th November 2024
Ministry of Justice
(This note is not part of the Order)
This Order prescribes 0.5% as the rate of return which, under section A1(1) of the Damages Act 1996 (c. 48), courts are required to take into account when calculating damages for future pecuniary loss in an action for personal injury. As this is the second review of the rate of return since the commencement of Schedule A1 to the Damages Act 1996, the procedure set out in paragraph 3 of Schedule A1 to that Act applies.
A full impact assessment of the effect that this instrument will have on the costs of business, the voluntary sector and the public sector is available from the Ministry of Justice, 102 Petty France, London, SW1H 9AJ and is published with an Explanatory Memorandum alongside the instrument on legislation.gov.uk.
1996 c. 48. Section A1 and Schedule A1 were inserted by section 10 of the Civil Liability Act 2018 (c. 29).
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