Regulation 40 Determination of tariff income from capital

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

reg 40 am (W) by Housing Renewal Grants 2001 regs 2, 11
reg. 40(1) word substituted by Housing Renewal Grants 2001 reg. 11
reg .43 amended by Housing Renewal Grants 1999 reg.11
reg.40(1) amended by Relocation Grants 1997 regs.5,6(9)
reg 40 am (E) by Housing Renewal Grants 2003 regs 3, 15
reg. 40(1) substituted by Housing Renewal Grants 2004 reg. 15(a)
reg. 40(2) words inserted by Housing Renewal Grants 2004 reg. 15(b)

(1)

Where the relevant person’s capital determined in accordance with this Chapter and Chapters IV to VIII exceeds £5,000 it shall be treated as equivalent to a weekly tariff income of £1 for each complete £250 in excess of £5,000.

(2)

Notwithstanding paragraph (1), where any part of the excess is not a complete £250, that part shall be treated as equivalent to a weekly tariff income of £1.

(3)

For the purposes of paragraph (1), capital includes any income treated as capital under regulation 35 (income treated as capital).