Today, the Bill to amend Scots Law on the Personal Injury Discount Rate and also to enable Scottish courts to impose Periodical Payment Orders when making an award of damages in personal injury cases has been published by the Scottish Parliament.
This Bill will pass through three legislative stages before it can become law. At present, the parliamentary timetable for the Bill remains to be set.
A link to the Bill, entitled the Damages (Investment Returns and Periodical Payments) (Scotland) Bill, is here .
It is worth noting that new legislation (the Civil Liability Bill) on the question of the discount rate in England and Wales has already made significant progress in Westminster. It is thought that that process should result in the re-setting of the discount rate in England & Wales (which is currently – 0.75 per cent, as in Scotland) sometime around the second half of next year. It will be interesting to see if the Scottish legislation might follow broadly the same sort of time scale.
We will cover the new Bill in more detail in the July version of our report for insurers on Scottish issues, including examining similarities and differences when compared to the Westminster Bill.
Rachel Rough, a Partner with BLM in Scotland