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Housing Renovation etc. Grants (Reduction of Grant) Regulations (Northern Ireland) 1997

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Capital jointly held

38.  Except where a relevant person possesses capital which is disregarded under regulation 37(4) (notional capital) where a relevant person and one or more persons are beneficially entitled in possession to any capital asset they shall be treated as if each of them were entitled in possession to an equal share of the whole beneficial interest therein; and the value of that equal share shall be calculated by taking the value of the whole beneficial interest calculated in accordance with the foregoing provisions of this Chapter, as though—

(a)that interest is solely owned by the relevant person; and

(b)in the case of a dwelling, none of the other joint owners occupies the dwelling concerned, and dividing the same by the number of persons who have a beneficial interest in the capital in question.

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