What is Lexcel? Lexcel is the Law Society's quality mark for practice management, compliance and client care. Lexcel is designed specifically for the legal sector. There are two versions of Lexcel—Lexcel England and Wales version 6.1 and Lexcel International version 5.1. Lexcel England and Wales v 6.1 is divided into two versions to meet the needs of law firms and in-house legal departments. Lexcel International version 5.1 is designed for practices in foreign jurisdictions or branch offices overseas. This Practice Note focuses on Lexcel England and Wales version 6.1. The Lexcel standard provides a flexible, supportive management framework to help in-house legal departments enhance the service it provides to the wider organisation, and in some instances, to external clients. This includes developing consistent operational efficiencies and client service, managing risk effectively, reducing costs and promoting profitability. Lexcel accreditation can be achieved following submission of an application form and then an assessment of your department against the standard by an approved Lexcel assessor. If met, Lexcel accreditation is awarded for three years, with

Either: (a) a statement by a securities exchange offeror or the offeree quantifying any financial benefits expected to accrue to the enlarged group if the offer is successful; or (b) a statement by the offeree quantifying any financial benefits expected to accrue to the offeree from cost saving or other measures and/or a transaction proposed to be implemented by the offeree if the offer is withdrawn or lapses QFBSs are governed by Rule 28. Any profit forecast or QFBS must be properly compiled and must be prepared with due care and consideration (Rule 28.3).

Apportioning damages Although all of the dependants’ claims are brought before the court in a single action, this is done for the sake of procedural/administrative convenience. Each dependant has an individual claim and this means that you will need to calculate their losses independently. Given the fact that multipliers can vary depending on the circumstances of both the deceased and the dependant, the appropriate multiplier may vary between different dependants. What approach will the court take? Usually, a fatal accident claim is brought under both the Law Reform (Miscellaneous Provisions) Act 1934 (LR(MP)A 1934) and the Fatal Accidents Act 1976 (FAA 1976). CPR 41.3A means that whenever there is a single sum of money awarded by the court or agreed between the parties in settlement of the case, the court must apportion the damages where there is a claim under: • FAA 1976 and LR(MP)A 1934—the court must apportion the money between the different claims • FAA 1976 and it is made by or on behalf of more than one

NOTE: The personal injury discount rate for England and Wales is 0.5%, effective from 11 January 2025. Schedule A1 to the Damages Act 1996 provides that each subsequent review must be started within the five-year period following the last review. For these purposes, a review is concluded when the Lord Chancellor makes the determination as to the rate. Damages may be recovered for the period: • between the date of death and the date of the trial—see Practice Notes: ◦ Quantifying damages for dependants—past losses—financial dependency ◦ Quantifying damages for dependants—past losses—services • after the date of trial subject to any anticipated changes to the level of future dependency, eg the post-retirement period For cases being prepared for a settlement meeting or mediation that is a long way in advance of any trial date it may be appropriate to calculate the losses as if the date of that meeting or mediation were the notional trial date. Assessing the multiplier and multiplicand Where the court concludes that there was

Claims for past expenses and losses tend to consist primarily of: • lost financial dependency • the value of the services that the deceased would have provided had they survived (see Practice Note: Quantifying damages for dependants—past losses—services) See also Practice Notes: Claims involving a fatality—heads of damage and Quantifying damages for the estate under the Law Reform Act. The loss is calculated using a multiplicand/multiplier approach. This means that the court will start by calculating the annual value of the loss (this is called the multiplicand) and applying the appropriate multiplier. As a simplified example: if the deceased paid the dependant £100 per month as an allowance (£1,200) and also provided DIY services to the value of £100 per quarter (£400), the annual multiplicand would be £1,600. Calculating the annual value to the dependants of the deceased’s lost income This is usually calculated as a percentage of the deceased’s lost income. Note: many jobs provide fringe benefits (such as the use of a company car or van) that do not

Claims for past expenses and losses tend to consist primarily of: • lost financial dependency (see Practice Note: Quantifying damages for dependants—past losses—financial dependency) • the value of the services that the deceased would have provided had they survived The loss is calculated using a multiplicand/multiplier approach. This means that the court will start by calculating the annual value of the loss (this is called the multiplicand) and applying the appropriate multiplier. As a simplified example: if the deceased paid the dependant £100 per month as an allowance (£1,200) and also provided DIY services to the value of £100 per quarter (£400), the annual multiplicand would be £1,600. Calculating the annual value to the dependants of the loss of the deceased’s services Usually a claim like this will be brought where, prior to their death, the deceased provided the dependant with services of some quantifiable commercial value. Just as with a claim for loss of financial dependency, a claim for loss of services can be brought in respect of services that had not

What can be claimed by the estate under the Law Reform (Miscellaneous Provisions) Act 1934? The Law Reform (Miscellaneous Provisions) Act 1934 (LR(MP)A 1934) allows the deceased’s estate to recover some of the losses that the deceased was entitled to claim before they died. The three types of claim that can be brought under LR(MP)A 1934 are: • general damages for the deceased’s pain, suffering and loss of amenity (PSLA) between injury and death • special damages, ie any financial losses incurred by the deceased between the date of the accident and the date of death (note that the estate cannot bring a claim under LR(MP)A 1934 for future loss of earnings but this may be recoverable under the Fatal Accidents Act 1976 (FAA 1976) as part of a dependency claim—see Practice Notes: ◦ Claims involving a fatality—heads of damage—FAA 1976—loss of dependency ◦ Quantifying damages for dependants—future losses • funeral expenses (provided they were paid for by the deceased’s estate) Practical point:

Investment management that stresses statistical and other numerical relationships between securities and their returns, and makes extensive use of computer models.

Quantitative restrictions refer to measures imposed by member states that aim to limit the quantity of imports and exports.

Person/firm appointed by the employer, also known as a cost consultant. The QS advises the client on (usually) selection of the contractor, preparation of the bills of quantities, financial control of the works (including the preparation of the cost plan) during the works. The QS may also be required to value the works and any variations as the contract proceeds and to prepare the final account.

People who make investment decisions based on mathematical models.

monetary damages (amount).