The Social Security Amendment (Capital Limitsand Earnings Disregards) Regulations 2000

Capital limits E+W+S

2.—(1) In the Income Support Regulations M1 —

(a) in regulation 41(1) (capital treated as income), after the figure “£8,000" there shall be inserted the words “ or, in a case where regulation 45(aa) applies, £12,000 ”;

(b) in regulation 45 (capital limit)—

(i) in paragraph (a), after the word “paragraph" there shall be inserted the words “ (aa) or ”;

(ii) after paragraph (a), there shall be inserted the following paragraph—

“(aa) where the circumstances prescribed in regulation 53(1ZA) apply in the claimant’s case, the prescribed amount is £12,000;”;

(c) in regulation 53 (calculation of tariff income from capital)—

(i) in paragraph (1), after the word “paragraph" there shall be inserted the words “ (1ZA) or ”;

(ii) after paragraph (1) there shall be inserted the following paragraph—

“(1ZA) Where the claimant—

(a) is aged 60 or over or has a partner who is aged 60 or over;

(b) is not a person to whom the circumstances prescribed in paragraph (1B) apply; and

(c) has capital which, calculated in accordance with this Part, exceeds £6,000,

that capital shall be treated as equivalent to a weekly income of £1 for each complete £250 in excess of £6,000 but not exceeding £12,000.”;

(iii) in both paragraphs (2) and (3), after “(1)" there shall be inserted “ , (1ZA) ”.

(2) In the Jobseeker’s Allowance Regulations M2 —

(a) in regulation 104(1) (capital treated as income), after the figure “£8,000" there shall be inserted the words “ or, in a case where regulation 107(aa) applies, £12,000 ”;

(b) in regulation 107 (capital limit)—

(i) in paragraph (a), after the word “paragraph" there shall be inserted the words “ (aa) or ”;

(ii) after paragraph (a), there shall be inserted the following paragraph—

“(aa) where the circumstances prescribed in regulation 116(1ZA) apply in the claimant’s case, the prescribed amount is £12,000;”;

(c) in regulation 116 (calculation of tariff income from capital)—

(i) in paragraph (1), after the word “paragraph" there shall be inserted the words “ (1ZA) or ”;

(ii) after paragraph (1) there shall be inserted the following paragraph—

“(1ZA) Where the claimant—

(a) is aged 60 or over or has a partner who is aged 60 or over;

(b) is not a person to whom the circumstances prescribed in paragraph (1B) apply; and

(c) has capital which, calculated in accordance with this Part, exceeds £6,000,

that capital shall be treated as equivalent to a weekly income of £1 for each complete £250 in excess of £6,000 but not exceeding £12,000.”;

(iii) in both paragraphs (2) and (3), after “(1)" there shall be inserted “ ,(1ZA) ”.

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Reg. 2(3)(4) revoked (6.3.2006) by The Housing Benefit and Council Tax Benefit (Consequential Provisions) Regulations 2006 (S.I. 2006/217), reg. 1(1), Sch. 1 (with regs. 2, 3, Sch. 3, Sch. 4)

Marginal Citations

M1 The relevant amending instruments are S.I. 1990/671, 1996/462 and 1999/3178.

M2 The relevant amending instruments are S.I. 1996/1516, 1997/65 and 1999/2860.