Explanatory note

The rateable values of hereditaments comprising dock or harbour undertakings occupied by statutory undertakers are, by virtue of the Docks and Harbours (Rateable Values) Order 1976, (“the principal order”) calculated by a formula applied to the undertaking’s revenue receipts, adjusted for each year beginning on 1st April by reference to the retail price index in September of the preceding year. The index was re-referenced in January 1987. This order amends the principal order to substitute, in relation to the year 1988—9 and subsequent years, a formula which reproduces the effect of the previous formula by reference to the re-referenced index.