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Regulation 7 Amount payable as rates

Original text. Later amendments are not shown.

The amount payable as rates in respect of any lands and heritages to which this Part applies and any day in the relevant year shall, subject to regulations 9, 10 and Parts IV and VI below, be calculated in accordance with the formula–

ARP=NL+(0.261/0.522×BTA)

where–

  • ARP is the amount of rates payable;

  • NL is the notional liability calculated in accordance with regulation 8 below;

  • BTA is the base transitional adjustment, being–

    • the amount payable as rates in respect of those lands and heritages and 31st March 2003, less the notional liability in respect of those lands and heritages and 31st March 2003 calculated in accordance with the formula contained in regulation 8 of the 2002 Regulations.