23Court required to inform parties of proposed award

23 Court required to inform parties of proposed award

23 Court required to inform parties of proposed award

(1) The purpose of this section is to enable the court to give the parties to proceedings a reasonable opportunity to negotiate a structured settlement.

(2) A court that decides to make an award of personal injury damages in respect of future loss (not including interest) exceeding $100,000 must first notify all the parties to the proceedings of the terms of the award it proposes to make.

(3) In addition, if the court considers that the person may be a person in need of protection, the court is to notify the NSW Trustee and Guardian of the terms of the award it proposes to make.

(4) The notification must set out the amount of each component part of the proposed award in accordance with the requirements of the regulations and rules of court.

(5) In this section—

person in need of protection means a person who is liable to be subject to an order that the estate of the person be subject to management under the NSW Trustee and Guardian Act 2009 because the person is not capable of managing his or her own affairs.

s 23: Ins 2002 No 92, Sch 1 [4]. Am 2009 No 49, Sch 2.8 [1] [2].