Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Settlement definition

What does Settlement mean? In financial markets practice, settlement is the completion of a securities trade by delivering the securities to the buyer and paying the price to the seller, usually on a scheduled date after the trade (for example, T+2) and commonly on a delivery versus payment (DvP) basis. It is a descriptive market term rather than a single statutory definition, but is governed by legislation and market rules (including the UK onshored CSDR regime and the EU CSDR in Ireland, the Uncertificated Securities Regulations, the Settlement Finality Regulations, and central securities depository and CCP rulebooks). Key features include trade matching/affirmation, allocation of settlement...

Payments into Court in England and Wales: Child and Protected Party Settlements, Court Investment and Payment-Out Procedures, and Conditional Orders (CPR 21.11, PD 37, Part 36)

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Practice notes

Such payments are now made only in restricted circumstances. These may include:

following an infant Settlement
where some protection is required on behalf of a Child or Protected party
after a conditional court order

As in all litigation, payment into court is no longer used specifically as a tactical device concerning costs under the CPR 36 regime.

Infant and protected party settlements

Once the settlement is sanctioned, the court has a duty under CPR 21.11(2) to issue directions on how the damages are to be managed. Historically, the usual approach was for the court to place the funds in the special investment account (SIA) at the Court Funds Office (CFO). Although this remains prudent where protection is needed against incompetence or dishonesty by litigation friends or legal representatives, it will generally be the exception. See Practice Note: Claims involving a child—investment of damages. Where the settlement is modest (ie below £5,000), it may no longer be the most appropriate course for the court to invest it in the SIA...

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Web page updated on 21/05/2026

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