Jurisdiction(s):
United Kingdom

Key definition

Par definition

What does Par mean? Par describes the face (principal) amount of a security—the sum an issuer must repay to investors on maturity or on a redemption at par. In debt capital markets and loan trading it is a descriptive market term, commonly defined in the relevant bond, note or loan documentation as the “principal amount” or “face value”. Typical usages include: issued at par (issue price equals par); trades at par (current price equals par); premium (above par); and discount (below par). Redemption at par means repayment of the outstanding principal without premium, make‑whole or discount. In company law, par value in this...

Rehabilitation Code 2015: Framework for Early Rehabilitation in Personal Injury and Clinical Negligence, Lower-Value and Catastrophic Claims; Duties, INAs, Reports, Funding and OIC Addendum (England and Wales)

Published by a LexisNexis PI & Clinical Negligence expert

Practice notes

The third iteration of the Rehabilitation Code appeared in September 2015 and came into substantive effect on 1 December 2015.

Reform of the Rehabilitation Code

The 2007 Rehabilitation Code refined and streamlined the original Code launched in 1999. After the Jackson reforms, a working group was convened to scrutinise the 2007 Rehabilitation Code. Following that review, key features of the 2015 Code (the Code) include: This review followed the Jackson reforms.

a dedicated section for lower‑value claims, meaning claims worth no more than £25,000 as defined within the Code
for more serious injuries, rehabilitation case managers are urged to collaborate proactively with treating NHS clinicians as set out at para 2.7
publication of a Guide for Case Managers and commissioners alongside the Code to guide practice
an addendum addressing claims in the Official Injury Claims (OIC) portal for use within the portal

Purpose of the Rehabilitation Code

The Code’s purpose is to set a framework for personal injury and clinical negligence claims that enables claimant representatives and compensators to co‑operate. Its goal is to support the injured person to achieve the swiftest feasible recovery, seeking to return them so far as possible, to their pre‑accident position as quickly as possible...

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Web page updated on 21/05/2026

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