Article 4 Consequential provision

(1)

Article 2(1) (interpretation) is amended as follows–

(a)

the definition of “recalculation factor” is omitted;

(b)

for the definition of “the standard formula” there is substituted–

““the standard formula” means the formula
$T + U,$
where–
a

T is the rateable value specified in article 5(1), and

b

U is the recalculation factor determined under article 8 in respect of the relevant year.”

(2)

In article 6 (recalculation factor: interpretation)–

(a)

in paragraph (1)–

(i)

for “articles 7 and 8” there is substituted “article 8”,

(ii)

sub-paragraph (a) is omitted;

(iii)

in sub-paragraph (b), for “the relevant designated person” there is substituted “London Underground Limited”;

(b)

paragraph (2) is omitted;

(c)

in paragraph (3), for “a designated person” there is substituted “London Underground Limited”, and the words “in relation to that person” are omitted.

(3)

Article 7 (recalculation factor for Railtrack PLC and the British Railways Board) is omitted.