Regulation 2

For the purpose of determining the rateable value of a hereditament for any day on or after 1st April 1995, in applying the provisions of sub-paragraphs (1) to (7) of paragraph 2 of Schedule 6 to the Local Government Finance Act 1988–

(a)

in relation to a hereditament in or on which there is plant or machinery which belongs to any of the classes set out in the Schedule to these Regulations, the prescribed assumptions are that:

(i)

any such plant or machinery is part of the hereditament; and

(ii)

the value of any other plant and machinery has no effect on the rent to be estimated as required by paragraph 2(1); and

(b)

in relation to any other hereditament, the prescribed assumption is that the value of any plant or machinery has no effect on the rent to be so estimated.