Valuation and Rating (Scotland) Act 1956

27 Meaning of "adjusted rateable value"

(1) For the purpose of calculating Exchequer Equalisation Grants under the Act of 1954 in respect of the year first commencing after the passing of this Act and of each of the following years before the year 1961-62, subsection (1) of section four of that Act (which subsection defines the expression " adjusted rateable value ") shall have effect as if for the words " preceding that year " there were substituted the words " in which the Valuation and Rating (Scotland) Act, 1956, passed ".

(2) For the purpose of calculating such Grants in respect of the year 1961-62 and of any subsequent year.—

(a) subsection (1) of section three of the Act of 1954 shall have effect as if the word " adjusted " were omitted ;

(b) subsection (1) of section four of the said Act shall cease to have effect;

(c) subsection (1) of section five of the said Act shall have effect as if the word " adjusted " were omitted ; and

(d) subsection (2) of the said section five shall have effect as if the words from " and in this section " to the end of the subsection were omitted.