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The Railways (Rateable Value) Order (Northern Ireland) 1997

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Redetermination of net annual value

6.  For the year ending 31st March 1999 and each subsequent year, the net annual value of a hereditament consisting of the properties to which Part IV applies shall be calculated in accordance with the formula:—

where—

  • A is the net annual value of the hereditament for the year immediately preceding the year in question; and

  • O is the total length of railway track measured in kilometres, for the year in question, occupied by the Company and used primarily for the conveyance of railway traffic.

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