Amendment of Schedule 3A to the Maintenance Assessments and Special Cases Regulations
48. (1) In paragraph 8 of Schedule 3A to the Maintenance Assessments and Special Cases Regulations (compensating transfers), for the words “The value of" there shall be substituted the words “Subject to paragraph 8A, the value of".
(2) After paragraph 8, there shall be inserted the following paragraph—

“8A. (1) This paragraph applies where—
(a) the property which is the subject of a compensating transfer is or includes cash or deposits as defined in paragraph 5(i);
(b) that property was acquired by the parent with care after the relevant date;
(c) the absent parent has no legal interest in that property;
(d) if that property is or includes cash obtained by a mortgage or charge, that mortgage or charge was executed by the parent with care after the relevant date and was of property to the whole of which she is legally entitled; and
(e) the effect of the compensating transfer is that the parent with care or a relevant child is beneficially entitled (subject to any mortgage or charge) to the whole of the absent parent’s legal estate in the land which is the subject of the qualifying transfer.
(2) Where sub-paragraph (1) applies, the qualifying value of the compensating transfer shall be the amount of the cash or deposits transferred pursuant to the court order or written maintenance agreement referred to in head (a) of the definition of “qualifying transfer" in paragraph 1(1).”.