Regulation 49 Income treated as capitalI1 England, Wales and Scotland Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below: reg. 49(3) words substituted by Housing Benefit and Council Tax Benefit 2005 reg. 3(14)(a) reg. 49(4) inserted by Housing Benefit and Council Tax Benefit 2005 reg. 3(14)(b) reg.49 amended by Social Security Amendment (Students and Income-related Benefits) 2000 reg.5(9) Any amount by way of a refund of tax deducted from a student’s covenant income shall be treated as capital. Annotations Commencement I1 Reg. 49 in force at 1.4.1993, see reg. 1(b) ← Regulation 48 Regulation 49 Regulation 50 →