General Rate Act 1967

Valuation of activities

2 (1) The value of an Electricity Board's distribution or generating activities for a rating area shall be an apportioned part of the aggregate value of the Board's distribution or, as the case may be, generating activities, and, subject to sub-paragraph (2) of this paragraph, the apportionment shall be made—

(a) in the case of distribution activities, by reference to the aggregate net annual value of the rating area, or so much thereof as is comprised in the area of the Board, and of the area of the Board ;

(b) in the case of generating activities, by reference to the generating capacity of the Board in the rating area and the aggregate generating capacity of the Board.

(2) Subject to paragraph 16 of this Schedule, the Minister may by order provide that the apportionment required by sub-paragraph (1) of this paragraph, shall in the case of all Electricity Boards or any Electricity Board specified by the order, instead of being made as provided by paragraphs (a) and (b) of that sub-paragraph, be made as provided by the order.