| (1) |
For the purposes of this Chapter, the value of property, excluding any money, in relation to any person holding the property— |
| (a) |
where any other person holds an interest in the property, shall be— |
| (i) |
the market value of the property; less |
| (ii) |
the amount required to discharge any encumbrance on the property; and |
| (b) |
where no other person holds an interest in the property, the market value of the property. |
| (2) |
Notwithstanding the provisions of subsection (1), any reference in this Chapter to the value at a particular time of a payment or reward, shall be construed as a reference to— |
| (a) |
the value of the payment or reward at the time when the recipient received it as adjusted to take into account subsequent fluctuations in the value of money; or |
| (b) |
where subsection (3) applies, the value mentioned in that subsection, |
whichever is the greater value.
| (3) |
If at the particular time the recipient holds— |
| (a) |
the property, other than cash, which he received, the value in question shall be the value of the property at the particular time; or |
| (b) |
property, or any part thereof, which directly or indirectly represents in his hands the property which he received, the value in question shall be the value of the property, in so far as it represents the property which he received, at the relevant time. |
Statistics Act, 1999
