{
  "url": "https://openlegislation.uk/pensions-regulator-tribunal-legal-assistance-scheme-regulations-2005/regulation-29",
  "json_url": "https://openlegislation.uk/pensions-regulator-tribunal-legal-assistance-scheme-regulations-2005/regulation-29.json",
  "legislation": "uksi/2005/781",
  "legislation_title": "The Pensions Regulator Tribunal (Legal Assistance Scheme) Regulations 2005",
  "legislation_url": "https://openlegislation.uk/pensions-regulator-tribunal-legal-assistance-scheme-regulations-2005",
  "path": "regulation/29",
  "kind": "regulation",
  "number": "29",
  "heading": "Calculation of capital",
  "text": "(1) Where the individual is the sole owner of or partner in a business, the value of the business to him shall be taken to be the greater of—\n(a) such sum, or his share of such sum, as could be withdrawn from the assets of his business without substantially impairing its profits or normal development; and\n(b) such sum as the individual could borrow on the security of his interest in the business without substantially injuring its commercial credit.\n(2) Where the individual stands in relation to a company in a position analogous to that of a sole owner or partner in a business, the Tribunal may, instead of ascertaining the value of his stocks, shares, bonds or debentures in that company, treat him as if he were a sole owner or partner in a business and calculate the amount of his capital in respect of that resource in accordance with paragraph (1).\n(3) Where the individual owns solely, jointly or in common with other persons, any interest on the termination of a prior estate, whether\n(a) legal or equitable;\n(b) vested or contingent;\n(c) in reversion or remainder; and\n(d) whether in real or personal property or in a trust or other fund,\nthe value of such interest shall be calculated in such manner as is both equitable and practicable.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/781/regulation/29",
    "retrieved_at": "2026-10-29T05:02:28.375334+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}