text_body: --- DIVISION TITLE ---
  
  Welfare Reform Bill - Clause 5 - Exclusion of Up to Â£50K in an ISA from Capital Used to Determine Universal Credit Eligibility
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to exclude up to Â£50K in an ISA from the assessment of capital used to determine if someone in work is eligible for Universal Credit.
  @ MP voted no against a proposal to exclude up to Â£50K in an ISA from the assessment of capital used to determine if someone in work is eligible for [http://en.wikipedia.org/wiki/Universal_Credit Universal Credit]. 
  
  The majority of MPs voted against a proposal to exclude up to Â£50,000 contained within an Individual Savings Account (ISA) from the assessment of someoneâs capital used to determine eligibility for Universal Credit for a person who is in work. 
  
  The capital limit, above which there would be no eligibility for Employment and Support Allowance, was subsequently set in regulations at Â£16,000[1]; with no exemption for any funds held in an ISA. 
  
  The motion voted on, listed as number 23,  was to amend the financial conditions for receiving Universal Credit it stated[2]:
  :page 3, line 7, after âitâ, insert
  :âexcluding any amount in an Individual Savings Account, up to a prescribed maximum of no less than Â£50,000, where the claimant is in workâ.
  
  Prior to the amendment clause 5 stated[3]:
  :5 Financial conditions
  :(1)For the purposes of section 3, the financial conditions for a single claimant are  thatâ 
  :(a)the claimantâs capital, or a prescribed part of it, is not greater than a  prescribed amount, and
  :(b) the claimantâs income is such that, if the claimant were entitled to universal credit, the amount payable would not be less than any  prescribed minimum.
  
  ==
  
  * [1] [http://www.legislation.gov.uk/ukdsi/2013/9780111531938/regulation/18 Regulation 18 of the Universal Credit Regulations 2013
  * [2] [http://www.theyworkforyou.com/debates/?id=2011-06-13b.581.0#g581.1 Official Record, House of Commons, 13 June 2011] 
  * [3] [http://www.publications.parliament.uk/pa/bills/cbill/2010-2012/0197/cbill_2010-20120197_en_2.htm Webpage containing p3 of the Welfare Reform Bill which the amendment would have acted on] 
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  