http://www.legislation.gov.uk/nisr/2003/28/regulation/21The State Pension Credit Regulations (Northern Ireland) 2003Income supportState pensionsBenefitsSickness and disability benefitsHelp to live at homeSOCIAL SECURITYStatute Law Database2026-01-15Expert Participation2009-03-18 These Regulations are made either by virtue of, or in consequence of, provisions in the State Pension Credit Act (Northern Ireland) 2002 (c. 14) (“the Act). PART IIIINCOMENotional capital211A claimant shall be treated as possessing capital of which he has deprived himself for the purpose of securing entitlement to state pension credit or increasing the amount of that benefit except to the extent that the capital which he is treated as possessing is reduced in accordance with regulation 22 (diminishing notional capital rule).2A person who disposes of a capital resource for the purpose of –areducing or paying a debt owed by the claimant, orbpurchasing goods or services if the expenditure was reasonable in the circumstances of the claimant’s case,shall be regarded as not depriving himself of it.3Where a claimant stands in relation to a company in a position analogous to that of a sole owner or partner in the business of that company, he shall be treated as if he were such sole owner or partner and in such a case –athe value of his holding in that company shall, notwithstanding regulation 19 (calculation of capital), be disregarded, andbhe shall, subject to paragraph (4), be treated as possessing an amount of capital equal to the value or, as the case may be, his share of the value of the capital of that company and the foregoing provisions of this Chapter shall apply for the purposes of calculating that amount as if it were actual capital which he does possess.4For so long as a claimant undertakes activities in the course of the business of the company, the amount which he is treated as possessing under paragraph (3) shall be disregarded.5Where under this regulation a person is treated as possessing capital, the amount of that capital shall be calculated in accordance with the provisions of this Part as if it were actual capital which he does possess.Reg. 21 in operation at 6.10.2003, see reg. 1(1)Reg. 21(2) substituted (5.4.2004) by The State Pension Credit (Miscellaneous Amendments) Regulations (Northern Ireland) 2004 (S.R. 2004/110), regs. 1, 3(4)