I11 Limit on increase in non-domestic rates for 1993 financial year.

1

The provisions of subsections (3) and (4) below have effect for setting at 100, for the financial year beginning in 1993, the value of X in the formula in paragraph 5(2) of Schedule 7A to the M1Local Government Finance Act 1988, being a formula relevant to the determination of the non-domestic rates for certain hereditaments.

2

In this Act—

a

“the 1988 Act” means the Local Government Finance Act 1988;

b

“the 1992 Act” means the M2Non-Domestic Rating Act 1992; and

c

“financial year” has the same meaning as in the 1988 Act.

3

In paragraph 5 of Schedule 7A to the 1988 Act, at the end of sub-paragraph (2A) (as set out in section 2(1) of the 1992 Act) there shall be added the words “ and for that beginning in 1993 ”.

4

In subsection (2) of section 2 of the 1992 Act (amendment of the M3Non-Domestic Rating (Transitional Period) (Amendment and Further Provision) Regulations 1990) in paragraph (a) after the words “beginning in 1992” there shall be inserted “ or that beginning in 1993 ”.

5

For the purpose of making similar provision in relation to certain hereditaments shown in a central non-domestic rating list, the formula in each of the following, namely—

a

article 9 of the M4British Gas plc (Rateable Values) Order 1989,

b

article 9(3) of the M5Electricity Supply Industry (Rateable Values) Order 1989,

c

article 12(3) of the M6Railways (Rateable Values) Order 1989, and

d

article 9(3) of the M7Water Undertakers (Rateable Values) Order 1989,

shall have effect in relation to the financial year beginning in 1993 as if for the figure “1.2” there were substituted the figure “ 1 ”.