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CIVIL LIABILITY ACT 1936 - SECT 55

CIVIL LIABILITY ACT 1936 - SECT 55

55—Lump sum compensation for future losses

If—

            (a)         an injured person is to be compensated by way of lump sum for loss of future earnings or other future losses; and

            (b)         an actuarial multiplier is used for the purpose of calculating the present value of the future losses,

then, in determining the actuarial multiplier, a prescribed discount rate is to be applied.