Regulation 17 Value of a transfer of property—equivalent weekly value
Where the conditions specified in paragraph 3 of Schedule 4B to the Act are satisfied, the value of a transfer of property for the purposes of that paragraph shall be that part of the transfer made by the non-resident parent (making allowances for any transfer by the person with care to the non-resident parent) which the Secretary of State is satisfied is in lieu of periodical payments of maintenance.
The Secretary of State shall, in determining the value of a transfer of property in accordance with paragraph (1), assume that, unless evidence to the contrary is provided to him—
the person with care and the non-resident parent had equal beneficial interests in the asset in relation to which the court order or agreement was made;
where the person with care was married to the non-resident parent, one half of the value of the transfer was a transfer for the benefit of the person with care; and
where the person with care has never been married to the non-resident parent, none of the value of the transfer was for the benefit of the person with care.
The equivalent weekly value of a transfer of property shall be determined in accordance with the provisions of the Schedule.
For the purposes of regulation 16 and this regulation, the term “maintenance” means the normal day-to-day living expenses of the qualifying child.
A variation falling within paragraph (1) shall cease to have effect at the end of the number of years of liability, as defined in paragraph 1 of the Schedule, for the case in question.