2Regional rates

(1)This section applies in respect of the year ending 31 March 2018.

(2)The regional rate to be levied on the rateable net annual values of hereditaments is 32.92 pence in the pound.

(3)The regional rate to be levied on the rateable capital values of hereditaments is 0.4177 pence in the pound.

(4)A rate specified under subsection (2) or (3) may be varied by an order made by the Department under Article 7(1) of the Rates Order.

(5)An order made by virtue of subsection (4)

(a)may be made only after the first occasion on which all the Ministerial offices are filled after 1 April 2017, but

(b)may set the rate in respect of the whole of the year for which it is made.

(6)In this section—

and any expression used in this section and in the Rates Order has the meaning given by that Order.