PERSONAL INJURIES (LIABILITIES AND DAMAGES) ACT 2003 - SECT 31 Meaning of structured settlement

PERSONAL INJURIES (LIABILITIES AND DAMAGES) ACT 2003 - SECT 31

For the purposes of this Division:

"structured settlement" means an order providing for the payment of all or part of an award of damages by one or both of the following means:

        (a)     periodic payments funded by an annuity or other agreed means;

        (b)     periodic payments in respect of future reasonable expenses for medical, hospital, pharmaceutical or attendant care services, payable as those expenses are incurred.