Legislation – Welfare Reform Act 2012
Changes to legislation:
Welfare Reform Act 2012, Section 5 is up to date with all changes known to be in force on or before 02 April 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
Part 1Universal credit
CHAPTER 1Entitlement and awards
Entitlement
5Financial conditions
(1)
For the purposes of section 3, the financial conditions for a single claimant are that—
(a)
the claimant’s capital, or a prescribed part of it, is not greater than a prescribed amount, and
(b)
the claimant’s income is such that, if the claimant were entitled to universal credit, the amount payable would not be less than any prescribed minimum.
(2)
For those purposes, the financial conditions for joint claimants are that—
(a)
their combined capital, or a prescribed part of it, is not greater than a prescribed amount, and
(b)
their combined income is such that, if they were entitled to universal credit, the amount payable would not be less than any prescribed minimum.