Regulation 34 Chargeable amount for defined class of hereditaments

(1)

The chargeable amount for a chargeable day which is a relevant day for a class of hereditaments to which this regulation applies shall be found in accordance with the rules prescribed in paragraph (2) in place of the provisions of section 54(4) to (7) of the Act.

(2)

Where this regulation applies, the chargeable amount for the chargeable day shall be calculated by applying the formula–

\frac{(BL \times AF)}{C}

(3)

For the purposes of this regulation–

BL and AF have the meanings given in regulation 33(2), and
C is the number of days in the relevant year.

(4)

Where this regulation applies, it has effect subject to the provisions of regulation 35.