Paragraph 17 F1

(1)

A hypothetical investor is someone who falls within each of sub-paragraphs (2) to (4).

(2)

That is, someone who—

(a)

is a recipient of damages, and

(b)

will—

(i)

invest the damages, and

(ii)

do so as properly advised.

(3)

That is, someone who—

(a)

has no financial resources, apart from the damages, that can be used to meet the losses and expenses for which the damages are awarded, and

(b)

will make withdrawals from the investment fund deriving from investment of the damages.

(4)

That is, someone whose objectives are of securing that the damages will—

(a)

meet the losses and expenses for which the damages are awarded, and

(b)

be exhausted at the end of the period for which the damages are awarded.

Annotations

F1: Sch. B1 inserted (S.) (1.7.2019) by Damages (Investment Returns and Periodical Payments) (Scotland) Act 2019 (asp 4), s. 9(2), sch.; S.S.I. 2019/197, reg. 2