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 the rate of return set by the official rate-assessor.
Subsection (1) does not however prevent the court from taking a different rate of return into account if any party to the action shows that the different rate is more appropriate in the circumstances of the case.
Schedule C1 (which makes provision about setting the rate of return for the purpose of subsection (1)) has effect.
In subsection (1), the reference to the official rate-assessor is to—
Regulations under subsection (4)(b) may provide for a person to deputise for the person appointed in place of the Government Actuary.
Before making regulations under subsection (4)(b), the Department of Justice in Northern Ireland must obtain the agreement of—
The power to make regulations under subsection (4)(b) is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979.
Regulations under subsection (4)(b) may not be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.