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PART V E+W+SINCOME AND CAPITAL

CHAPTER VIE+W+Scapital

Capital jointly heldE+W+S

52.  Except where a claimant possesses capital which is disregarded under regulation 51 (4) (notional capital), where a claimant and one or more persons are beneficially entitled in possession to any capital asset they shall be treated as if each of them were entitled in possession to the whole beneficial interest therein in an equal share [F1and the foregoing provisions of this Chapter shall apply for the purposes of calculating the amount of capital which the claimant is treated as possessing as if it were actual capital which the claimant does possess.]

Textual Amendments

Commencement Information

I1Reg. 52 in force at 11.4.1988, see reg. 1