Amount payable as rates
This section has no associated Executive Note
7. Subject to regulation 9, the amount payable as rates in respect of any lands and heritages to which this Part applies and any day in the relevant year shall be calculated in accordance with the formula–
where–
ARP is the amount of rates payable;
NL is the notional liability calculated in accordance with regulation 8; and
BTA is the base transitional adjustment, being the amount payable as rates in respect of those lands and heritages and 31st March 2006, less the notional liability in respect of those lands and heritages on 31st March 2006 calculated in accordance with the formula contained in regulation 8 of the 2005 Regulations.