PART 6Income and capital
CHAPTER 7Capital
Calculation of capital outside the United Kingdom47.
Capital which an applicant possesses in a country outside the United Kingdom is to be calculated—
(a)
in a case where there is no prohibition in that country against the transfer to the United Kingdom of an amount equal to its current market or surrender value in that country, at that value; and
(b)
in a case where there is a prohibition, at the price it would realise if sold in the United Kingdom to a willing buyer,
less, where there would be expenses attributable to sale, 10 per cent and the amount of any encumbrances secured on it.