F1SCHEDULE A1ASSUMED RATE OF RETURN ON INVESTMENT OF DAMAGES: ENGLAND AND WALES

Annotations:
Amendments (Textual)
F1

Sch. A1 inserted (E.W.) (20.12.2018) by Civil Liability Act 2018 (c. 29), ss. 10(2), 14

1Periodic reviews of the rate of return

1

The Lord Chancellor must review the rate of return periodically in accordance with this paragraph.

2

The first review of the rate of return must be started within the 90 day period following commencement.

3

Each subsequent review of the rate of return must be started within the 5 year period following the last review.

4

It is for the Lord Chancellor to decide—

a

when, within the 90 day period following commencement, a review under sub-paragraph (2) is to be started;

b

when, within the 5 year period following the last review, a review under sub-paragraph (3) is to be started.

5

In this paragraph—

  • “90 day period following commencement” means the period of 90 days beginning with the day on which this paragraph comes into force;

  • “5 year period following the last review” means the period of five years beginning with the day on which the last review under this paragraph (whether under sub-paragraph (2) or (3)) is concluded.

6

For the purposes of this paragraph a review is concluded on the day when the Lord Chancellor makes a determination under paragraph 2 or 3 (as the case may be) as a result of the review.