[F13A.—(1) In estimating the net annual value [F2or capital value] of a relevant hereditament during a deemed completion period, the actual state of the hereditament shall be taken to be a state of reasonable repair excluding any repairs which a reasonable landlord would consider uneconomic.N.I.
(2) In this paragraph—
“building” has the same meaning as in Article 25B;
“deemed completion period” means the period—
(a)beginning with the day on which the building is deemed to be completed by virtue of paragraph (2) of that Article; and
(b)ending on the day on which the building becomes capable of rateable occupation;
“relevant hereditament” means a hereditament which comprises a building which is deemed to be completed by virtue of that paragraph.]
F2Words in Sch. 12 Pt. I para. 3A(1) inserted (1.10.2011) by Rates (Amendment) Act (Northern Ireland) 2009 (c. 8), ss. 17, 19(1), Sch. 1 para. 10; S.R. 2011/16, art. 2(2), Sch. 2