Regulation 31 Calculation of capital
Where eligibility is being assessed under regulation 5(6), paragraphs (2) to (4) apply.
Where the person concerned is the sole owner of or partner in a business, the value of the business to him shall be taken to be the greater of:
such sum, or his share of such sum, as could be withdrawn from the assets of his business without substantially impairing its profits or normal development; and
such sum as that person could borrow on the security of his interest in the business without substantially injuring its commercial credit.
Where the person concerned stands in relation to a company in a position analogous to that of a sole owner or partner in a business, the assessing authority may, instead of ascertaining the value of his stocks, shares, bonds or debentures in that company, treat that person as if he were a sole owner or partner in a business and calculate the amount of his capital in respect of that resource in accordance with paragraph (2).
Where the person concerned owns solely, jointly or in common with other persons, any interest on the termination of a prior estate, whether
legal or equitable;
vested or contingent;
in reversion or remainder; and
whether in real or personal property or in a trust or other fund
the value of such interest shall be calculated in such manner as is both equitable and practicable.
Where eligibility is being assessed other than under regulation 5(6), the sums mentioned in this regulation shall be disregarded.