Paragraph 11 C1

The gross value of a hereditament whose rateable value is by virtue of subsection (1) of section 19 of the M1General Rate Act 1967 to be taken to be its net annual value ascertained in accordance with subsections (2) to (4) of that section shall be taken to be its corresponding gross value, that is to say, the gross value which would be equivalent to the net annual value shown in the valuation list if there were deducted any amounts which by virtue of an order made or falling to be treated as made under section 19(2) of the General Rate Act 1967 would be deducted from the gross value of the hereditament if it had been required to be assessed to its gross value instead of its net annual value.

If more than one value is so ascertained to be the corresponding gross value, the highest value so ascertained shall be taken.