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Article 5 Rateable values for financial year 1992-93

Original text. Later amendments are not shown.

(1)

For the purposes of section 6(1) of the 1975 Act, the rateable value of any prescribed class of lands and heritages occupied by a Company for the financial year 1992-93 shall be an amount equal to the product of either—

(a)

£4,688 per megawatt of the declared net capacity of the generating plant (where the primary source of energy used for the plant is wind, wave or tidal power); or

(b)

£9,375 per megawatt of its declared net capacity (in any other case).

(2)

Where (apart from this paragraph) any rateable value determined under paragraph (1) above would include a fraction of a pound—

(a)

the fraction shall be made up to one pound if it would exceed 50p; and

(b)

the fraction shall be ignored if it would be 50p or less.