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Regulation 33 Determination of capital

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

(1)

The capital of a relevant person to be taken into account shall, subject to paragraph (2), be the whole of his capital determined in accordance with this Part and any income treated as capital under regulation 35 (income treated as capital).

(2)

There shall be disregarded from the determination of a relevant person’s capital under paragraph (1) any capital, where applicable, specified in Schedule 4.