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Article 7 Redetermination of net annual value

Original text. Later amendments are not shown.

For the year ending on 31st March 1999 and for each subsequent year the net annual value of the hereditaments occupied by the Company shall be the amount determined in accordance with the formula—

(£4,088,000×AB)+(£12,632,000×CD)

where—

  • A is the estimated number of circuit kilometres of main transmission line in Northern Ireland occupied by the Company on the day falling one year before the commencement of the year in question;

  • B is the estimated number of circuit kilometres of main transmission line in Northern Ireland occupied by the Company on the day falling two years before the commencement of the year in question;

  • C is the estimated installed transformer capacity (measured in kilovoltamperes) of all the electricity transformation plant in Northern Ireland occupied by the Company on the day falling one year before the commencement of the year in question; and

  • D is the estimated installed transformer capacity (measured in kilovoltamperes) of all the electricity transformation plant in Northern Ireland occupied by the Company on the day falling two years before the commencement of the year in question.