Ordinarily no, any settlement amount awarded to a child will be held by the Court Funds Office where it will be invested and accrue interest. Once the child reaches the age of 18, the Court Funds Office will usually transfer the money to the child and close the account.
However, in certain circumstances where the child requires a proportion, or all, of the settlement money for specific needs, such as medical treatment or educational support, then a request can be made to the court. Provided that the court is comfortable that the money is intended to be used for the benefit of the child and will not be wasted, then the court is likely to grant approval.