Calculation of capital in the United KingdomE+W+S
49. Capital which a claimant possesses in the United Kingdom shall be calculated—
(a)except in a case to which sub-paragraph (b) applies, at its current market or surrender value, less—
(i)where there would be expenses attributable to sale, 10 per cent; and
(ii)the amount of any incumbrance secured on it;
(b)in the case of a National Savings Certificate—
(i)if purchased from an issue the sale of which ceased before 1st July last preceding the first day on which income support is payable or the date of the determination of the claim, whichever is the earlier, or in the case of a review, the date of any subsequent review, at the price which it would have realised on that 1st July had it been purchased on the last day of that issue;
(ii)in any other case, at its purchase price.