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CIVIL LIABILITY ACT 2003 - SECT 57
Discount rate for calculating present value of future loss or gratuitous services
57 Discount rate for calculating present value of future loss or gratuitous
services
(1) When assessing an amount of damages as a lump sum for a future loss or
gratuitous services, the amount must be the present value, calculated using
the prescribed discount rate, of the future loss or gratuitous services.
(2)
In this section—
"prescribed discount rate" , for an award, see the Civil Proceedings Act 2011
, section 61 .
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