Regulation 116 Calculation of tariff income from capitalI1
Northern Ireland Not yet in force
(1)
Where the claimant’s capital calculated in accordance with this Part exceeds £3,000 it shall be treated as equivalent to a weekly income of £1 for each complete £250 in excess of £3,000 but not exceeding £8,000.
(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 income of £1.
(3)
For the purposes of paragraph (1), capital includes any income treated as capital under regulations 110 and 124 (income treated as capital and liable relative payments treated as capital).
Annotations
Commencement
- I1
Reg. 116 in operation at 7.10.1996, see reg. 1(1)