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.