New South Wales Consolidated Acts

WORKERS COMPENSATION ACT 1987 - SECT 151Q

151Q Structured settlements

(1) This section applies to an award of damages if the plaintiff requests that it apply. In making an order under this section the court is to give preference to the views of the injured worker.

(2) If this section applies to an award of damages, the court--

(a) may separately determine the amount of damages for future economic loss and the amount of damages for past economic loss, and

(b) may order that any damages determined by the court for future economic loss are to be paid in accordance with such arrangements as the court determines or approves.

(3) In making an order under this section, the court is required to have regard to the following matters--

(a) the ability of the plaintiff to manage and invest any lump sum award of damages,

(d) the views of the defendant in relation to the proposed order,

(e) such other matters as the court considers appropriate.

(4) In making an order under this section relating to damages for impairment of earning capacity, the court may order the damages to be used to purchase an annuity for the plaintiff on such terms as the court considers appropriate.

(6) Arrangements determined or approved under this section may include provision that payments of damages for impairment of earning capacity are to be made at intervals of not more than 12 months.

(7) A party to any arrangements determined or approved under this section may apply to the court at any time for an order varying or terminating the arrangements.

(8) The court may, on an application under subsection (7), make such order as it considers appropriate, having regard to the provisions of this section.

(9) The regulations may make provision for or with respect to any matter dealt with in this section and, in particular, may impose conditions or limitations on the orders that may be made under this section or otherwise regulate the making of those orders.