Damages Bill [H.L.] (Hansard, 22 July 1996)

HL Deb 22 July 1996 vol 574 cc1175-6 1175

§ The Lord Chancellor
My Lords, I beg to move that the Commons amendments be now considered.
Moved, That the Commons amendments be now considered.—(The Lord Chancellor.)

§ On Question, Motion agreed to.

§ COMMONS AMENDMENTS

§ [The page and line refer to Bill (148) as first printed by the Commons.]

§ COMMONS AMENDMENT

§ 1 Clause 5, page 4, line 13, at end insert—

§ '(8) Where—

(a) an agreement is made settling a claim or action for damages for personal injury on terms whereby the damages are to consist wholly or partly of periodical payments;
(b) the person against whom the claim or action is brought (or, if he is insured against the claim, his insurer) purchases one or more annuities; and
(c) a subsequent agreement is made under which the annuity is, or the annuities are, assigned in favour of the person entitled to the payments (so as to secure that from a future date he receives the payments as the annuitant under the annuity or annuities),

then, for the purposes of section 4 above, the agreement settling the claim or action shall be treated as a structured settlement and any such annuity assigned in favour of that person shall be treated as an annuity purchased for him pursuant to the settlement.

§ (9) Subsections (2) to (7) above shall apply to an agreement to which subsection (8) above applies as they apply to a structured settlement as defined in subsection (1) above (the reference in subsection (6) to subsection (1)(b) being read as a reference to subsection (8)(b)).'.

§ The Lord Chancellor
My Lords, I beg to move that the House do agree with the Commons in their Amendment No. 1.
This is a technical amendment to ensure that the enhanced policyholders protection conferred by Clause 4 will apply regardless of when the person entitled to the payments becomes policyholder of the annuity which is central to the structured settlement. It was moved in the other place when it became apparent that Clauses 4 and 5 might not be effective when that person became the policyholder by assignment after the structured settlement was first set up.
Moved, That the House do agree with the Commons in their Amendment No. 1.—(The Lord Chancellor.)

§ On Question, Motion agreed to.

§ COMMONS AMENDMENT

§ 2 Clause 8, page 5, leave out lines 25 to 28.

§ The Lord Chancellor
My Lords, I beg to move that the House do agree with the Commons in their Amendment No. 2, which is a privilege amendment.
Moved, That the House do agree with the Commons in their Amendment No. 2.—(The Lord Chancellor.)

§ On Question, Motion agreed to.