51M.— (1) Where a plaintiff has a right to receive payments under a periodic payments order, the plaintiff may apply to the court that made the order for approval to assign, commute or charge the right.

(2) A right to receive payments under a periodic payments order may not be assigned, commuted or charged without the approval of the court that made the order.

(3) Where a plaintiff, without the approval of the court, purports to—

(a) assign, commute or charge his or her right to receive payments under a periodic payments order, or

(b) enter into an agreement to assign, commute or charge such a right,

the assignment, commutation or charge, as the case may be, shall be void.

(4) In considering whether or not to approve a proposed assignment, commutation or charge of a plaintiff’s right to receive payments under a periodic payments order, a court shall have regard to—

(a) whether the capitalised value of the assignment, commutation or charge represents value for money,

(b) whether the assignment, commutation or charge is in the plaintiff’s best interests, and

(c) how the plaintiff will be financially supported following the assignment, commutation or charge, as the case may be.]