Social Welfare and Pensions Act 2007

35.

Schedule 3 — amendments.

35.— Schedule 3 to the Principal Act is amended—

( a) in Part 2—

(i) F3 [ ]

(ii) in Rule 1(2)( b)(iii) (as amended by section 4 and Schedule 1 of the Act of 2006), by deleting “in the case of jobseeker’s allowance,” and

(iii) by deleting Rule 1(2)( b)(vii),

( b) in Part 3 (as amended by section 24 of the Act of 2006)—

(i) in Rule 1(1), by substituting “reference 1 of Table 1” for “Table 1”, and

(ii) by deleting Rule 1(2)( b)(vii) and (viii),

( c) in Part 5 (inserted by section 25 of the Act of 2006)—

(i) in Rule 1(1), by substituting “reference 1 of Table 1” for “Table 1”,

(ii) in Rule 1(2)( b)(iii), by deleting “in the case of one-parent family payment,” and

(iii) by deleting Rule 1(2)( b)(xi),

and

( d) by substituting the following for Table 1:

“Table 1

Reference No.

Calculation of Weekly Value

1.

The weekly value of the property referred to in Rule 1(1) of Part 2 (for the purposes of jobseeker’s allowance, pre-retirement allowance and farm assist), Rule 1(1) of Part 3 and Rule 1(1) of Part 5 shall be calculated as follows:

( a) the first €20,000 of the capital value of the property shall be excluded;

( b) the weekly value of so much of the capital value of the property as exceeds €20,000 but does not exceed €30,000 shall be assessed at €1 per each €1,000;

( c) the weekly value of so much of the capital value of the property as exceeds €30,000 but does not exceed €40,000 shall be assessed at €2 per each €1,000; and

( d) the weekly value of so much of the capital value of the property as exceeds €40,000 shall be assessed at €4 per each €1,000.

2.

The weekly value of the property referred to in Rule 1(1) of Part 2, for the purposes of disability allowance, shall be calculated as follows:

( a) the first €50,000 of the capital value of the property shall be excluded;

( b) the weekly value of so much of the capital value of the property as exceeds €50,000 but does not exceed €60,000 shall be assessed at €1 per each €1,000;

( c) the weekly value of so much of the capital value of the property as exceeds €60,000 but does not exceed €70,000 shall be assessed at €2 per each €1,000; and

( d) the weekly value of so much of the capital value of the property as exceeds €70,000 shall be assessed at €4 per each €1,000.

3.

The weekly value of the property referred to in Rule 1(1) of Part 4 shall be calculated as follows:

( a) the first €5,000 of the capital value of the property shall be excluded;

( b) the weekly value of so much of the capital value of the property as exceeds €5,000 but does not exceed €15,000 shall be assessed at €1 per each €1,000;

( c) the weekly value of so much of the capital value of the property as exceeds €15,000 but does not exceed €40,000 shall be assessed at €2 per each €1,000; and

( d) the weekly value of so much of the capital value of the property as exceeds €40,000 shall be assessed at €4 per each €1,000.

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