Regulation 28 Capital treated as incomeI1

England, Wales and Scotland

(1)

Any capital payable by instalments which are outstanding at the date of the claim shall, if the aggregate of the instalments outstanding and the amount of the claimant’s capital otherwise calculated in accordance with Chapter VI of this Part exceeds £16,000, be treated as income.

(2)

Any payment received under an annuity shall be treated as income.

F1(3)

Any Career Development Loan paid pursuant to section 2 of the Employment and Training Act 1973 shall be treated as income.

Annotations

Textual amendments

F1: Reg. 28(3) added (for specified purposes and with effect in accordance with reg. 1(6) of the amending S.I.) by The Income-related Benefits and Jobseeker’s Allowance (Miscellaneous Amendments) Regulations 1997 (S.I. 1997/65), regs. 1(1)(6), 3(3)(b)

Commencement

I1: Reg. 28 in force at 7.4.1992, see reg. 1