Paragraph 25A F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch.3, para.9 amended by Tax Credits Schemes Amendment (Education Maintenance Allowance) 2000 reg.3(1)(2)(b)
Sch. 3 para. 11(d) substituted by Tax Credits (New Deal Consequential Amendments) 2001 reg. 8(2)
Sch. 3 para. 57 substituted by Tax Credits (New Deal Consequential Amendments) 2001 reg. 8(3)
Sch. 3 para. 69 added by Tax Credits 2001 reg. 4(2)
Sch. 3 para. 42(d) words inserted by Secretaries of State for Health and Social Care and for Housing, Communities and Local Government and Transfer of Functions (Commonhold Land) 2018 Sch. para. 21(c)
Sch. 3 para. 44 word substituted by Secretary of State for Justice 2007 Sch. para. 15(2)
Sch. 3 para. 55 words substituted by Social Care (Self-directed Support) (Scotland) Act 2013 (Consequential Modifications and Savings) 2014 Sch. para. 3
Sch. 3 para. 55 words inserted by Community Care, Services for Carers and Children’s Services (Direct Payments) 2003 reg. 11(2) Sch. 2
Sch. 3 para. 27A inserted by Tax Credits 2003 reg. 7(2)
Sch. 3 para. 22(1)(a) words inserted by Adoption and Children (Scotland) Act 2007 (Consequential Modifications) 2011 Sch. 1 para. 13(3)
Sch. 3 para. 55 words inserted by Community Care, Services for Carers and Children’s Services (Direct Payments) 2004 Sch. 2 para. 2
Sch. 3 para. 24(a) words inserted by National Health Service Reform and Health Care Professions Act 2002 (Supplementary, Consequential etc. Provisions) 2002 reg. 8 Sch. 5
Sch. 3 para. 14(b) words inserted by Tax Credits 2002 reg. 5(1)(a)
Sch. 3 para. 14(c) words inserted by Tax Credits 2002 reg. 5(1)(b)
Sch. 3 para. 50 words inserted by Tax Credits 2002 reg. 6
Sch. 3 para. 51 words inserted by Tax Credits 2002 reg. 6
Sch. 3 para. 52(1)(b) words inserted by Tax Credits 2002 reg. 7
Sch. 3 para. 25 words substituted by Tax Credits 2002 reg. 4(2)

(1)

Subject to sub-paragraph (2), any payment received under an insurance policy taken out to insure against the risk of being unable to maintain repayments—

(a)

on a loan which is secured on the dwelling which the claimant occupies as his home; or

(b)

under a regulated agreement as defined for the purposes of the Consumer Credit Act 1974 or under a hire-purchase agreement or a conditional sale agreement as defined for the purposes of Part III of the Hire-Purchase Act 1964.

(2)

A payment referred to in sub-paragraph (1) shall only be disregarded to the extent that the payment received under that policy does not exceed the amounts, calculated on a weekly basis, which are used to—

(a)

maintain the repayments referred to in sub-paragraph (1)(a) or, as the case may be, (b); and

(b)

meet any amount due by way of premiums on—

(i)

that policy; or

(ii)

in a case to which sub-paragraph (1)(a) applies, an insurance policy taken out to insure against loss or damage to any building or part of a building which is occupied by the claimant as his home and which is required as a condition of the loan referred to in sub-paragraph (1)(a).

Annotations

Textual amendments

F1: Sch. 3 para. 25A inserted (2.6.1998 for specified purposes) by The Social Security (Miscellaneous Amendments) (No.3) Regulations 1998 (S.I. 1998/1173), regs. 1(2), 3

Notes on Schedule 3

Modifications

C1: Sch. 3 paras. 61, 62 modified (temp. until 27.11.2001) (28.11.2000) by The Social Security (New Deal Pilot) Regulations 2000 (S.I. 2000/3134), regs. 1(1)(b), 16(1)(2)(b) (with regs. 1(2), 11, 19)