Paragraph 44

(1)

Amend paragraph 4 of Schedule 8 (incidence of rates) as follows.

(2)

In sub-paragraph (1)—

(a)

for “if the rateable value is reduced” substitute “if the amount payable by way of rates is reduced in consequence of the alteration;

(b)

for “if the rateable value is increased” substitute “if the amount payable by way of rates is increased in consequence of the alteration”;

(c)

omit the words “at the rate in the pound current for the time being”.

(3)

After sub-paragraph (1) insert the following sub-paragraph—

“(1A)

For the purposes of sub-paragraph (1)(a) the rateable value of a hereditament is altered if—

(a)

the rateable net annual value or the rateable capital value is altered;

(b)

the hereditament becomes liable, or ceases to be liable, to be valued upon an estimate of its net annual value or its capital value.”.