Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 2/32)
Character Range: 1387067–1389595

in paragraph 54‑10(1)(e); or
 (b) that is purchased under the terms of a *structured order as mentioned in paragraph 54‑10(1A)(e).
personal injury lump sum means a lump sum:
 (a) that is purchased under the terms of a *structured settlement as mentioned in paragraph 54‑10(1)(e); or
 (b) that is purchased under the terms of a *structured order as mentioned in paragraph 54‑10(1A)(e).

54‑10  Meaning of structured settlement and structured order
 (1) A structured settlement is a settlement of a claim that satisfies the following conditions:
 (a) the claim:
 (i) is for compensation or damages for, or in respect of, personal injury suffered by a person (the injured person); and
 (ii) is made by the injured person or by his or her *legal personal representative;
 (b) the claim is based on the commission of a wrong, or on a right created by statute;
 (c) the claim is made against a person (the defendant) and satisfies the following conditions:
 (i) the claim is not made against the defendant in his or her capacity as an employer, or *associate of an employer, of the injured person;
 (ii) the claim is not made under a *workers' compensation law, and is not made as an alternative to a claim under such a law;
 (d) the settlement takes the form of a written agreement between the parties to the claim (whether or not that agreement is approved by an order of a court, or is embodied in a consent order made by a court);
 (e) under the terms of the settlement, some or all of the compensation or damages is to be used by the defendant (or by a person with whom the defendant has insurance against the liability to which the claim relates) to purchase from one or more *life insurance companies or *State insurers:
 (i) an *annuity or annuities to be paid to the injured person, or to a trustee for the benefit of the injured person; or
 (ii) such an annuity or annuities, together with one or more lump sums that are also to be paid to the injured person, or to a trustee for the benefit of the injured person.
 (1A) A structured order is an order of a court that satisfies the following conditions:
 (a) the order is made in respect of a claim that:
 (i) is for compensation or damages for, or in respect of, personal injury suffered by a person (the injured person); and
 (ii) is made by the injured person or by his or her *legal personal representative;
 (b) the order is not an order approving or endorsing an agreement as mentioned in paragraph (1)(d);
 (c) the claim is based on the commission of a wrong, or on a