Article 10 Determination of rateable values

The rateable value (as a whole) of the English hereditaments, or, as the case may be, the Welsh hereditaments shall be an amount equal to the aggregate of the amounts which, but for the Schedule 2 scheme, and subject to paragraph (2) below, would have been determined in accordance with article 5 as the rateable value of the classes of hereditaments which constitute the English hereditaments or, as the case may be, the Welsh hereditaments.

For the purposes of determining the recalculation factor applicable in a relevant year, article 7 shall apply as if, in calculating the amount assigned to Y or, in a case to which article 7(3) applies, the number assigned to Z, water supplied by or to the scheme transferee to or by another party to the Schedule 2 scheme were ignored.