Regulation 5 Amendment of regulation 15

(1)

The existing provisions of regulation 15 (calculation of the amount to be disregarded: class B) become paragraph (1) of that regulation, and in that paragraph—

(a)

for the formula substitute—

“ $(E - (F - G)) \times ((H - J) / H)$ ”; and

(b)

for the definition of “J” substitute—

“J is—

(a)

for a day falling within the period beginning on 1st April 2013 and ending on 31st March 2017, the rateable value shown for the hereditament in a local non-domestic rating list for 31st March 2013;

(b)

for a day on or after 1st April 2017, the amount calculated in accordance with the formula—

$X \times \frac{Y}{Y 1}$

where—

X is the rateable value shown for the hereditament in a local non-domestic rating list for 31st March 2013;

Y is the rateable value shown for the hereditament in a local non-domestic rating list for 1st April 2017;

Y1 is the rateable value shown for the hereditament in a local non-domestic rating list for 31st March 2017.”.

(2)

After paragraph (1) insert—

“(2)
For a hereditament to which regulation 19 (change in rateable value on 1st April 2017) applies, this regulation has effect subject to the modification made by that provision.”.