Section 16 Rates of gaming duty.

For the table in section 11(2) of the M1Finance Act 1997 (rates of gaming duty) substitute—

“

TABLE

Part of gross gaming yield	Rate
The first £470,500	2½ per cent.
The next £1,045,500	12½ per cent.
The next £1,045,500	20 per cent.
The next £1,830,000	30 per cent.
The remainder	40 per cent.

”

This section has effect in relation to accounting periods beginning on or after 1st April 2000.