Regulation 49 Notional capital

a discretionary trust; or

a trust derived from a payment made in consequence of a personal injury; or

any loan which would be obtained only if secured against capital disregarded under Schedule 6; or

a personal pension scheme F1, occupational pension scheme F2F3... or a payment made by the Board of the Pension Protection Fund; or

any sum to which paragraph 45(2)(a) of Schedule 6 (capital to be disregarded) applies which is administered in the way referred to in paragraph 45(1)(a); or

any sum to which paragraph 46(a) of Schedule 6 refers; or

child tax credit; or

working tax credit,

to a third party in respect of a single claimant or a member of the family (but not a member of the third party's family) shall, where that payment is a payment of an occupational pension F6, a pension or other periodical payment made under a personal pension scheme or a payment made by the Board of the Pension Protection Fund, be treated as possessed by that single claimant or, as the case may be, by that member;

to a third party in respect of a single claimant or in respect of a member of the family (but not a member of the third party's family) shall, where it is not a payment referred to in sub-paragraph (a), be treated as possessed by that single claimant or by that member to the extent that it is used for the food, household fuel or, subject to paragraph (8), rent or ordinary clothing or footwear, of that single claimant or, as the case may be, of any member of that family or is used for any council tax or water charges for which that claimant or member is liable;

to a single claimant or a member of the family in respect of a third party (but not in respect of another member of the family) shall be treated as possessed by that single claimant or, as the case may be, that member of the family to the extent that it is kept or used by him or used by or on behalf of any member of the family.

under F7or by the Macfarlane Trust, the Macfarlane (Special Payments) Trust, the Macfarlane (Special Payments) (No. 2) Trust, the Fund, the Eileen Trust F8, MFET Limited, the Independent Living F9Fund (2006), the Skipton Fund F10, the Caxton Foundation F11, the Scottish Infected Blood Support Scheme F12, an approved blood scheme F13, the London Emergencies Trust, the We Love Manchester Emergency Fund F14, the National Emergencies Trust F15, the Victims of Overseas Terrorism Compensation Scheme or the London Bombings Relief Charitable Fund;

pursuant to section 2 of the 1973 Act in respect of a person's participation—

in respect of a person's participation in the Mandatory Work Activity Scheme;

in respect of a claimant's participation in a scheme prescribed in regulation 3 of the Jobseeker's Allowance (Schemes for Assisting Persons to Obtain Employment) Regulations 2013;

in respect of a person’s participation in a scheme prescribed in regulation 3 of the Jobseeker’s Allowance (Supervised Jobsearch Pilot Scheme) Regulations 2014;

in respect of a person’s participation in a scheme prescribed in regulation 3 of the Jobseekers Allowance (18 - 21 Work Skills Pilot Scheme) Regulations 2014;

under an occupational pension scheme F23, in respect of a pension or other periodical payment made under a personal pension scheme or a payment made by the Board of the Pension Protection Fund where—

a Grenfell Tower payment;

a child abuse payment;

a Windrush payment;

a Post Office compensation payment;

a vaccine damage payment;

an LGBT Financial Recognition Scheme payment.F27;

a miscarriage of justice compensation paymentF28;

a Mother and Baby Scheme payment.

the value of his holding in that company shall, notwithstanding regulation 44 (calculation of capital) be disregarded; and

he shall, subject to paragraph (6), be treated as possessing an amount of capital equal to the value or, as the case may be, his share of the value of the capital of that company and the foregoing provisions of this Section shall apply for the purposes of calculating that amount as if it were actual capital which he does possess.