Misconceptions about £50k investment(90days requirement)

[Fabu]

Dear Friends,

For a while (5yrs now) , I have being a silent and quiet reader of various posts on this platform without adding my knowledge. However the time has come for me correct a much paraded misconception about £50k investment required to be in an applicant' personal account for 90 days prior to an in-country application submission (specifically for PSW holders-Initial application ).

My facts:

Initially applied in 2013 for Tier 1 Entrepreneur Visa
Got refused June 2013 owing to a short fall of £70 in maintenance fund
Appealed to FTT,,appeal dismmised. Long story cut short , appeal dragged on till Oct 2015 when it was finally dismissed by the Court of Appeal i. e. (N.B. During the period btw FTT hearing and COA, I won some hearings , lost some hearings)

At the point of COA dismissing my appeal, my article 3C ended as my appeal rights got exhausted

I then had 28days to put in a fresh £50k application(second application ) which I did on the 26th day of the 28days. i. e. Dec 20, 2015 (N.B. £50k was transferred into my personal account by two individual third parties just 4 days before I submitted the application )

Application was refused Feb 10 , 2016 (Reason for refusal : Although I showed evidence of funds held for 4 days, the rules required that I also submit evidence showing that the third parties held the funds for the remainder of the 90 days period before onward transfer to me . In order words , I was expected to produce third party statements showing funds for a total of 86days for both individuals

Requested for AR arguing that the rules were unambiguously clear for £50k funds held for 90 days and funds not held for 90 days especially where funds had been transferred to applicant prior to submittingvisa application. Above all , I was not expected to provide third party statements as funds had been transferred to me.N.B. I supplied all other requirements e.g. notarised third party declarations etc

AR maintainted previous refusal decision , gave me 7 days to leave the UK except I had other reasons to stay in UK

Filed PAP giving them 6days to respond in view of the 7days notice i received but no response from them

On 7th day , filed for JR

No acknowledgement of service for 60 days after filing JR, way beyond the required timescale for the GLD of the home office to respond

Finally got AOS with consent order asking me to withdraw my JR and no order as to cost

I agreed to withdraw the JR but requested payment of reasonable cost

Counter consent order was agreed to by GLD

All these transpired from March after AR maintained previous decision till July 2016

Got visa approved afterwards.

In a nutshell, £50k could have been held in personal account for 90 days or less than 90 days prior the date of application

Hope this helps someone out there