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Assessment of capital means for certain assistance payments.
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9.—(1) The Third Schedule to the Principal Act is amended—
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(a) in Part I, by substituting the following for subparagraph (b) of Rule 1(1) (as amended by section 17(1)(a) of the Act of 2000):
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“(b) The weekly value of the property referred to in subparagraph (a) shall be calculated as follows—
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(i) the first €20,000 of the capital value of the property shall be excluded,
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(ii) 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 €1 per each €1,000,
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(iii) the weekly value of so much of the capital value of the property as exceeds €30,000 but does not exceed €40,000 shall be assessed at €2 per each €1,000, and
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(iv) the weekly value of so much of the capital value of the property as exceeds €40,000 shall be assessed at €4 per each €1,000.”,
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(b) in Part II, by substituting the following for subparagraph (b) of Rule 1(1) (as amended by section 17(1)(b) of the Act of 2000):
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“(b) The weekly value of the property referred to in subparagraph (a) shall be calculated as follows—
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(i) the first €20,000 of the capital value of the property shall be excluded,
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(ii) 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 €1 per each €1,000,
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(iii) the weekly value of so much of the capital value of the property as exceeds €30,000 but does not exceed €40,000 shall be assessed at €2 per each €1,000, and
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(iv) the weekly value of so much of the capital value of the property as exceeds €40,000 shall be assessed at €4 per each €1,000,
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but no account shall be taken under any other provision of these Rules of any appropriation of the property for the purpose of current expenditure.”,
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and
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(c) in Part IV, by substituting the following for subparagraph (b) of Rule 1(2) (as amended by section 17(1)(d) of the Act of 2000):
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“(b) The weekly value of the property referred to in subparagraph (a) shall be calculated as follows:
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(i) the first €20,000 of the capital value of the property shall be excluded,
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(ii) 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 €1 per each €1,000,
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(iii) the weekly value of so much of the capital value of the property as exceeds €30,000 but does not exceed €40,000 shall be assessed at €2 per each €1,000, and
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(iv) the weekly value of so much of the capital value of the property as exceeds €40,000 shall be assessed at €4 per each €1,000,
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but no account shall be taken under any other provision of these Rules of any appropriation of the property for the purpose of current expenditure.”.
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(2) This section comes into operation—
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(a) in so far as it relates to carer's allowance, on 7 April 2005,
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(b) in so far as it relates to unemployment assistance, disability allowance, pre-retirement allowance and farm assist, on 1 June 2005, and
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(c) in so far as it relates to old age (non-contributory) pension, blind pension, widow's or widower's (non-contributory) pension, one-parent family payment, orphan's (non-contributory) pension and a relevant payment by virtue of section 18(1)(b) or (c) of the Act of 1996, on 2 June 2005.
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