Article 2 Interpretation and application

In this Order—

• “the Act” means the Local Government Finance Act 1988;

• “the Central Lists Regulations” means the Central Rating Lists (England) Regulations 2000^f1;

• “central list” means the central non-domestic rating list for England^f2 and except in article 6(2)(a) means the list compiled on 1st April 2000;

• “designated person” means Railtrack or, as the case may be, LUL;

• “estimated relevant track length”, in relation to the hereditament of a designated person, means the length of track, expressed in kilometres, estimated to be comprised in the railways of that designated person but excluding track used wholly or mainly for the storage of rolling stock or for access to depots;

• “LUL” means the Company bearing the name London Underground Limited on 1st January 2000;

• “Railtrack” means the company bearing the name Railtrack plc on 1st January 2000;

• “recalculation factor” in relation to a hereditament means the factor determined in relation to that hereditament under article 5;

• “relevant hereditament” means—

  1. (a)

     in relation to Railtrack, the hereditament described in regulation 7 of the Central Lists Regulations, and

  2. (b)

     in relation to LUL, the hereditament described in regulation 8 of the Central Lists Regulations,

  and in each case treated by virtue of that regulation as occupied by the designated person in question and required by regulation 4 and Part 4 of the Schedule to those Regulations^f3 to be shown in the central list;

• “relevant year” means any year for which a rateable value falls to be determined in accordance with this Order, and “relevant preceding year” means the year preceding a relevant year;

• “the standard formula” in relation to a hereditament means the formula

  $$\mathrm{T}+\mathrm{U}\text{,}$$

  where

  • T is the rateable value specified in article 4 in relation to that hereditament for the year beginning on 1st April 2000, and

  • U is the recalculation factor applicable in relation to that hereditament in respect of the relevant year;

• “track” has the meaning given by section 83 of the Railways Act 1993^f4; and

• “year” means a chargeable financial year.