Treatment of capitalN.I.
This
adran has no associated
Memorandwm Esboniadol
16.—(1) Where the total of B’s capital or, in a case where B is a member of a couple, the total of B’s and B’s partner’s capital, exceeds £1,000, the amount of any budgeting advance which may otherwise be paid must be reduced by the amount by which that capital exceeds £1,000.
(2) No budgeting advance is payable where, as a result of paragraph (1), the amount of any budgeting advance which would otherwise be payable is reduced to less than £100.
(3) Capital is to be calculated for the purposes of paragraph (1) in accordance with Chapter 1 of Part 6 of the Universal Credit Regulations.
Commencement Information
I1Reg. 16 in operation at 27.9.2017, see reg. 1(3)(h)