Regulation 18 AssetsF1I1

in which the non-resident parent F2has a beneficial interest, or which the non-resident parent has the ability to control;

which has been transferred by the non-resident parent to trustees, and the non-resident parent is a beneficiary of the trust so created, in circumstances where the Department is satisfied the non-resident parent has made the transfer to reduce the amount of assets which would otherwise be taken into account for the purposes of a variation under paragraph 4(1) of Schedule 4B to the Order; or

which has become subject to a trust created by legal implication of which the non-resident parent is a beneficiary.

money, whether in cash or on deposit;

a beneficial interest in land and rights in or over land;

shares as defined in Article 2 of the Companies (Northern Ireland) Order 1986^f1, stock, unit trusts, gilt edged securities as defined in paragraph 1 of Schedule 9 to the Taxation of Chargeable Gains Act 1992^f2, and other similar financial instruments;

a chose in action which has not been enforced when the Department is satisfied that such enforcement would be reasonable,

where the total value of the assets referred to in that paragraph does not exceed £65,000 after deduction of –

in relation to any asset which the Department is satisfied is being retained by the non-resident parent to be used for a purpose which the Department considers reasonable in all the circumstances of the case;

to any asset received by the non-resident parent as compensation for personal injury suffered by him;

F4except where the asset is of a type specified in paragraph (2)(b) and produces income which does not form part of the net weekly income of the non-resident parent as calculated or estimated under Part III of the Schedule to the Maintenance Calculations and Special Cases Regulations, to any asset used in the course of a trade or business; or

to property which is the home of the non-resident parent or any child of his F5; or

where, were the non-resident parent a claimant, paragraph 22 (treatment of payments from certain trusts) or 59 (treatment of relevant trust payments) of Schedule 10 to the Income Support (General) Regulations (Northern Ireland) 1987 would apply to the asset referred to in that paragraph.

“statutory rate of interest” means interest at the same rate as that prescribed for judgments by Order 42 rule 9 of the Rules of the Supreme Court (Northern Ireland) 1980^f3 which applies on the date from which the maintenance calculation which takes account of the variation takes effect;

“stock” includes shares, debentures and any securities of the body concerned, whether or not constituting a charge on the assets of that body;

“unit trust” means any trust established for the purpose, or having the effect of providing, for persons having funds available for investment, facilities for the participation by them as beneficiaries under the trust, in any profits or income arising from the acquisition, holding, management or disposal of any property whatsoever.