Regulation 114 Calculation of capital outside the United Kingdom
Capital which a claimant possesses in a country outside the United Kingdom is to be calculated—
in a case in which there is no prohibition in that country against the transfer to the United Kingdom of an amount equal to its current market or surrender value in that country, at that value;
in a case where there is such a prohibition, at the price which it would realise if sold in the United Kingdom to a willing buyer,
less, where there would be expenses attributable to sale, 10% and the amount of any incumbrance secured on it.
Notes on the whole SI
Textual amendments
- F1
Section 3(3) is cited for the power to prescribe a payment under paragraph (b) of the definition of “pension payment”.
- F2
Section 22 is cited insofar as it relates to paragraphs 1 to 3, 6, 7, 8(1), 9 and 10 of Schedule 2.
- F3
Section 24(1) is cited for the definition of “employment” and “employed”, “period of limited capability for work”, “prescribed”, “regulations” and “week”.
- F4
Paragraph 6(5) of Schedule 1 is cited for the definition of “couple”, “education” and “remunerative work”.
- F5
- F6
- F7