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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
  Version 4 of 4    

Article 10 Declaration of eligibility: determining assets held by an individual

(1) For the purpose of preparing a declaration of eligibility the assets of an individual ("A") must be calculated as follows -

(a) at the end of each quarter in the eligibility calculation period calculate the value of such assets held by A as are necessary to demonstrate that A meets the condition specified in article 9(3) to give quarterly totals; and

(b) add the quarterly totals together and divide by four.

(2) For the purpose of calculating quarterly totals -

(a) any money on deposit in a joint bank account for which A is one of the account holders shall be treated as held by A alone;

(b) if A holds any other asset jointly with one or more other persons, A shall be treated as holding -

(i) a share of the asset determined in accordance with any agreement between the owners of the asset concerning the shares in which they hold the asset, or

(ii) if there is no such agreement, a share of the value of the asset which is equal to the total value of the asset concerned divided by the nu

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