Social Welfare (Consolidated Payments Provisions) (Amendment) (No. 12) (Capital Assessment) Regulations, 2000.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: (1) These Regulations may be cited as the Social Welfare (Consolidated Payments Provisions) (Amendment) (No. 12) (Capital Assessment) Regulations, 2000.
(2) These Regulations and the Social Welfare (Consolidated Payments Provisions) Regulations 1994, to 2000 shall be construed together as one and may be cited together as the Social Welfare (Consolidated Payments Provisions) Regulations, 1994 to 2000.
Interpretation.
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paragraphs: In these Regulations—
“the Principal Regulations” means the Social Welfare (Consolidated Payments Provisions) Regulations, 1994 ( S.I. No. 417 of 1994 ).
Commencement.
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paragraphs: These Regulations shall come into operation—
(a) in so far as it relates to unemployment assistance and farm assist on 4 October 2000,
(b) in so far as it relates to unemployment benefit on 5 October 2000,
(c) in so far as it relates to disability benefit or injury benefit on 9 October 2000,
(d) in so far as it relates to disability allowance on 11 October 2000,
(e) in so far as it relates to retirement pension, invalidity pension and pre-retirement allowance on 12 October 2000,
(f) in so far as it relates to old age (contributory) pension and unemployability supplement on 13 October 2000.
Assessment of property.
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paragraphs: The Principal Regulations are hereby amended by—
(a) the substitution in sub-article (1) of article 6B (inserted by Article 3 of the Social Welfare (Consolidated Payments Provisions) (Amendment) Regulations, 1996 ( S.I. No. 95 of 1996 )) for paragraph (c) of the following paragraph:
“(c) insofar as it consists of income from property (other than property referred to in paragraph (d) of this sub-article) which is invested or otherwise put to profitable use or which, though capable of investment or profitable use, is not invested or put to profitable use, by reference to the weekly value of the property, calculated as follows:
(i) the first £10,000 of the capital value of the property shall be excluded,
(ii) the weekly value of so much of the capital value of the property as exceeds £10,000 but does not exceed £20,000 shall be assessed at £1 per each £1,000,
(iii) 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 £2 per each £1,000, and
(iv) the weekly value of so much of the capital value of the property as exceeds £30,000 shall be assessed at £4 per each £1,000.”, and
(b) the substitution for article 87 (as amended by article 3 of the Social Welfare (Consolidated Payments Provisions) (Amendment) (No. 7) (Unemployment Assistance, Pre-Retirement Allowance and Farm Assist) Regulations, 1999 ( S.I. No. 324 of 1999 )) of the following article:
“Yearly value of property-unemployment assistance.
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paragraphs: The yearly value of any advantage mentioned in Rule 1 (3) of Part I of the Third Schedule to the Principal Act shall be ascertained by deducting expenses necessarily incurred from the gross income.”, and
(c) the substitution in sub-article (1) of article 87A (as amended by article 3 of the Social Welfare (Consolidated Payments Provisions) (Amendment) (No. 7) (Unemployment Assistance, Pre-Retirement Allowance and Farm Assist) Regulations, 1999 ( S.I. No. 324 of 1999 )) for “yearly” of “weekly”.
Saver
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paragraphs: (1) Subject to sub-article (2), article 4(a) of these Regulations shall not have the effect of reducing the rate of any increase of benefit or assistance below the rate payable immediately before the commencement of these Regulations in relation to that benefit or assistance.
(2) Sub-article (1) shall cease to apply to any person where the amount of capital on which the assessment of his or her spouse's weekly income was based on the commencement of these Regulations is found to have increased.
GIVEN under the Official Seal of the Minister for Social, Community and Family Affairs, this 26th day of September, 2000.
DERMOT AHERN,
Minister for Social, Community and Family Affairs.
EXPLANATORY NOTE.
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These Regulations provide for improvement in the existing method of assessing capital, for the purposes of calculating a spouse's weekly income, in order to determine whether a qualified adult allowance is payable.
The new method of assessment will calculate the capital value of property on a weekly basis as follows:
— the first £10,000 will be disregarded;
— capital between £10,000 and £20,000 will be assessed at £1 weekly means for each £1,000;
— capital between £20,000 and £30,000 will be assessed at £2 weekly means per each £1,000;
— capital above £30,000 will be assessed at £4 weekly means per each £1,000.
The Regulations also provide that the introduction of the new assessment method will not adversely affect any amount payable immediately before the commencement of these Regulations unless the amount of capital on which the assessment was based is found to have increased.