OpenLegislation

Section 7 Payment of lump sums by instalments.

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • s. 25 (defns. of "former wife" and "former husband") amended (prosp.) by Family Law Act 1996 s. 66(1) Sch. 8 Pt. 1 para. 27(8)
(1)

An order under section 2(1)(b) or 6(2)(b) of this Act for the payment of a lump sum may provide for the payment of that sum by instalments of such amount as may be specified in the order.

(2)

Where an order is made by virtue of subsection (1) above, the court shall have power, on an application made by the person to whom the lump sum is payable, by the personal representatives of the deceased or by the trustees of the property out of which the lump sum is payable, to vary that order by varying the number of instalments payable, the amount of any instalment and the date on which any instalment becomes payable.