PART IIREDUCTION IN AMOUNT OF GRANT

Reduction in amount of grant10

1

The amount of any grant which may be paid in respect of an application which is accompanied by an owner-occupation certificate shall, if the financial resources of the applicant or applicants exceed the applicable amount, be reduced from what it would otherwise have been by an amount equal to the aggregate of the amounts determined—

a

by multiplying by 17.76 such part of that excess as is £47.95 or less;

b

by multiplying by 35.52 such part of that excess as is greater than £47.95 but not more than £95.89;

c

by multiplying by 142.06 such part of that excess as is greater than £95.89 but not more than £191.78; and

d

by multiplying by 355.15 such part of that excess as is greater than £191.78.

2

The amount of any grant which may be paid in respect of an application which is accompanied by a tenant’s certificate shall, if the financial resources of the applicant or applicants exceed the applicable amount, be reduced from what it would otherwise have been by an amount equal to the aggregate of the amounts determined—

a

by multiplying by 10.51 such part of that excess as is £47.95 or less;

b

by multiplying by 21.02 such part of that excess as is greater than £47.95 but not more than £95.89;

c

by multiplying by 84.09 such part of that excess as is greater than £95.89 but not more than £191.78; and

d

by multiplying by 210.23 such part of that excess as is greater than £191.78.