Search Legislation

The Child Support Departure Direction and Consequential Amendments Regulations (Northern Ireland) 1996

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

More Resources

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Regulation 22

SCHEDULEEquivalent Weekly Value of a Transfer of Property

1.—(1) Subject to paragraphs 3 and 4, the equivalent weekly value of a transfer of property shall be calculated by multiplying the value of a transfer of property determined in accordance with regulation 22(1) and (2) by the relevant factor specified in the Table set out in paragraph 2 (“the Table”).

(2) For the purposes of sub-paragraph (1), the relevant factor is the number in the Table at the intersection of the column for the statutory rate and of the row for the number of years of liability.

(3) In sub-paragraph (2)—

(a)“the statutory rate” means interest at the same rate as that prescribed for judgments by Order 42 rule 9 of the Rules of the Supreme Court (Northern Ireland) 1980(1) which applies at the date of the court order or written agreement relating to the transfer of the property;

(b)“the number of years of liability” means the number of years, beginning on the date of the court order or written agreement relating to the transfer of property and ending on—

(i)the date specified in that order or agreement as the date on which maintenance for the youngest child in respect of whom that order or agreement was made shall cease, or

(ii)if no such date is specified, the date on which the youngest child specified in the order or agreement reaches the age of 18,

and where that period includes a fraction of a year, that fraction shall be treated as a full year if it is either one half or exceeds one half of a year, and shall otherwise be disregarded.

2.  The Table referred to in paragraph 1(1) is set out below—

THE TABLE

Number of years of liabilityStatutory rate
8.0%10.0%12.0%12.5%14.0%15.0%
1.02077.02115.02154.02163.02192.02212
2.01078.01108.01138.01145.01168.01183
3.00746.00773.00801.00808.00828.00842
4.00581.00607.00633.00640.00660.00674
5.00482.00507.00533.00540.00560.00574
6.00416.00442.00468.00474.00495.00508
7.00369.00395.00421.00428.00448.00462
8.00335.00360.00387.00394.00415.00429
9.00308.00334.00361.00368.00389.00403
10.00287.00313.00340.00347.00369.00383
11.00269.00296.00324.00331.00353.00367
12.00255.00282.00310.00318.00340.00355
13.00243.00271.00299.00307.00329.00344
14.00233.00261.00290.00298.00320.00336
15.00225.00253.00282.00290.00313.00329
16.00217.00246.00276.00283.00307.00323
17.00211.00240.00270.00278.00302.00318
18.00205.00234.00265.00273.00297.00314

3.  The equivalent weekly value of the property transferred shall be nil if the value of the transfer of the property is less than £5,000.

4.  The Department may determine a lower equivalent weekly value than that determined in accordance with paragraphs 1 and 2 where the amount of child support maintenance that would be payable in consequence of a departure direction specifying that value is lower than the amount of maintenance that was payable under the court order or written agreement referred to in regulation 21.

5.  In this Schedule, “maintenance” has the same meaning as in paragraph 3(2) of Schedule 4B to the Order.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources