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Article 5 Interpretation

Original text. Later amendments are not shown.

In this Part—

(a)

in any formula—

  • B is the figure applicable in relation to the relevant year for the purposes of paragraph 5(3) of Schedule 7 to the Act;

  • C is the figure applicable in relation to the relevant year for the purposes of paragraph 5(4) of Schedule 7 to the Act;

  • I is the figure for the retail prices index for September in the relevant preceding year;

  • and in relation to any class of hereditaments—

  • R is the recalculation factor applicable to that class determined under Part IV in respect of the relevant preceding year;

  • RV is the rateable value of that class in the relevant preceding year; and

    1. (b)

      T is the amount specified in relation to a class of hereditaments in column 1 of the Schedule;

  • U is the recalculation factor applicable to that class determined in accordance with Part IV in respect of the relevant year; and

  • “the standard formula” means the formula T + U.