6A. Determination of total net personal assets

In determining the value of an individual’s total net personal assets for the purposes of these Regulations, the value of the individual’s primary residence —

is to be calculated by deducting from the estimated fair market value of the residence any outstanding amounts in respect of any credit facility that is secured by the residence; and

is taken to be the lower of the following:

the value calculated under paragraph (a);

$1 million.