Regulation 132 Calculation of covenant income where a contribution is assessed
Where a student is in receipt of income by way of a grant during a period of study and a contribution has been assessed, the amount of his covenant income to be taken into account for that period and any summer vacation immediately following shall be the whole amount of his covenant income less, subject to paragraph (3), the amount of the contribution.
The weekly amount of the student’s covenant income shall be determined–
by dividing the amount of income which falls to be taken into account under paragraph (1) by 52 or, if there are 53 benefit weeks (including part-weeks) in the year, 53; and
by disregarding £5 from the resulting amount.
For the purposes of paragraph (1), the contribution shall be treated as increased by the amount, if any, by which the amount excluded under regulation 131(2)(g) falls short of the amount for the time being specified in paragraph 7(4)(i) of Schedule 2 to the Education (Mandatory Awards) Regulations 1995 (travel expenditure).
Notes on the whole SI
Textual amendments
- F1
- F2
Section 35(1) is an interpretation provision: it is cited because it contains powers exercised in these Regulations in the definitions of “employment", “jobseeker's period", “pensionable age", “pensionable payments", “training" and “work" and because of the meaning assigned to the words “prescribed" and “regulations".
- F3
1992 c.5; section 191 is an interpretation provision and it is cited because of the meaning ascribed to the word “prescribed".
- F4
1992 c.4; sections 171D and 171G(2) were inserted by the Social Security (Incapacity for Work) Act 1994 (c.18), section 6(1) and have effect for the purposes of the Jobseekers Act 1995 by virtue of paragraph 2 of Schedule 1 to that Act. Section 171G(2) is an interpretation provision and is cited because of the meaning ascribed to the word “prescribed".
- F5
See section 173(5)(b) of the Social Security Administration Act 1992 (c.5).
Notes on Students
Textual amendments
- F1
Ch. IX, Pt. VIII Title substituted (for specified purposes and with effect in accordance with reg. 1(bi)(bii) of the amending S.I.) by The Social Security Amendment (Students and Income-related Benefits) Regulations 2000 (S.I. 2000/1922), regs. 1, 3(3)