S.L. 16.11 Art. 7Calculating the capital.

In calculating the capital criteria of the means test, account shall be taken of:

(a) the value of any immoveable property belonging fully to the person with a claim to the tenancy only if the said person holds vacant possession of the said property;

(b) money deposited in a bank which can be withdrawn at less than three months’ notice;

(c) cash in hand;

(d) time deposits;

(e) bonds;

(f) stocks;

(g) securities;

(h) any other financial instrument or financial product:

Provided that for the purpose of paragraph (a), where the Board finds that the possession of dwelling-house would not be vacant because its use would have been granted to third parties under any title including lease, the Board shall consider the conditions at which the tenant may recover the possession of the dwelling-house, and if such repossession may be made in the short term, that dwelling-house shall be included anyway in the calculation of the capital criteria of the means test: Provided further that in the case mentioned in the first proviso, if as a result of the inclusion of the dwelling-house in the calculation the tenant does not meet the capital criteria of the means test, the Board shall have the power to extend the period mentioned under sub-article (4) of article 4A of the Reletting of Urban Property

(Regulation) Ordinance and article 12B of the Housing (Decontrol) Ordinance:

Provided further that in the scrutiny mentioned in the second proviso, the Board shall have the power to consider whether the tenant would have disposed of his rights maliciously, and in such case include the dwelling-house in the calculation of the capital criteria of the means test anyway.