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As I understand it, it will NOT be possible for just anyone to appear out of the woodwork years after the event, make spurious claims and then launch an action
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It will, actually, but the ruling gives the judge discretion to decide whether it's in the interests of justice to proceed with the case outside the three year limitation. This is much more relevant to people, for example, abused at the age of 10 for whom it's clearly against the interests of justice to force them to launch a legal action by age 13, particularly if they're in the care of the body they're suing, or quite probably have resources or family or legal expertise to fall back on. The Lotto Rapist angle does hide the main point here.