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Schedule 3 — amendments.
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35.— Schedule 3 to the Principal Act is amended—
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(a) in Part 2—
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(i) by substituting the following for Rule 1(1):
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“(1) other than in the circumstances and subject to the conditions and for the periods that may be prescribed, the weekly value of property belonging to the person (not being property personally used or enjoyed by the person or a farm of land leased by him or her) which is invested or is otherwise put to profitable use by the person or which, though capable of investment or profitable use is not invested or put to profitable use and the weekly value, calculated for the purposes of—
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(a) jobseeker’s allowance, pre-retirement allowance or farm assist in accordance with reference 1 of Table 1 to this Schedule, or
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(b) disability allowance in accordance with reference 2 of Table 1 to this Schedule,
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constitutes the weekly means of a person from that property but, in the case of farm assist, 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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(ii) in Rule 1(2)(b)(iii) (as amended by section 4 and Schedule 1 of the Act of 2006), by deleting “in the case of jobseeker’s allowance,” and
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(iii) by deleting Rule 1(2)(b)(vii),
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(b) in Part 3 (as amended by section 24 of the Act of 2006)—
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(i) in Rule 1(1), by substituting “reference 1 of Table 1” for “Table 1”, and
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(ii) by deleting Rule 1(2)(b)(vii) and (viii),
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(c) in Part 5 (inserted by section 25 of the Act of 2006)—
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(i) in Rule 1(1), by substituting “reference 1 of Table 1” for “Table 1”,
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(ii) in Rule 1(2)(b)(iii), by deleting “in the case of one-parent family payment,” and
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(iii) by deleting Rule 1(2)(b)(xi),
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and
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(d) by substituting the following for Table 1:
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“Table 1
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Reference No.
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Calculation of Weekly Value
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1.
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The weekly value of the property referred to in Rule 1(1) of Part 2 (for the purposes of jobseeker’s allowance, pre-retirement allowance and farm assist), Rule 1(1) of Part 3 and Rule 1(1) of Part 5 shall be calculated as follows:
(a) the first €20,000 of the capital value of the property shall be excluded;
(b) 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;
(c) 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
(d) 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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2.
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The weekly value of the property referred to in Rule 1(1) of Part 2, for the purposes of disability allowance, shall be calculated as follows:
(a) the first €50,000 of the capital value of the property shall be excluded;
(b) the weekly value of so much of the capital value of the property as exceeds €50,000 but does not exceed €60,000 shall be assessed at €1 per each €1,000;
(c) the weekly value of so much of the capital value of the property as exceeds €60,000 but does not exceed €70,000 shall be assessed at €2 per each €1,000; and
(d) the weekly value of so much of the capital value of the property as exceeds €70,000 shall be assessed at €4 per each €1,000.
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3.
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The weekly value of the property referred to in Rule 1(1) of Part 4 shall be calculated as follows:
(a) the first €5,000 of the capital value of the property shall be excluded;
(b) the weekly value of so much of the capital value of the property as exceeds €5,000 but does not exceed €15,000 shall be assessed at €1 per each €1,000;
(c) the weekly value of so much of the capital value of the property as exceeds €15,000 but does not exceed €40,000 shall be assessed at €2 per each €1,000; and
(d) 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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”.
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