Rating and Valuation (Miscellaneous Provisions) Act 1955

5 (1) Where a hereditament is one to which the principal section applies for a part, but not the whole, of the first year of the new list, or of any subsequent year, the principal section, and the preceding provisions of this Schedule, shall have effect in relation to the hereditament subject to such modifications as may be requisite for securing—

(a) that the amount of rates chargeable in respect of the hereditament shall not be reduced, and no remission or reduction of rates shall be granted in respect thereof, for that part of the year for which the hereditament is not a hereditament to which the principal section applies, and

(b) that any proportion by which the amount of rates chargeable in respect of the hereditament would (apart from this sub-paragraph) be required to be reduced shall be adjusted proportionately.

(2) Where a hereditament was a hereditament to which the principal section applies (or would have been a hereditament to which it applied if it had then been in force) for a part, but not the whole, of the last year of the old list, the principal section, and the preceding provisions of this Schedule, shall have effect in relation to the hereditament subject to such modifications as may be requisite for securing that any amount calculated by reference to the rates which were or would have been chargeable in respect of the hereditament for that, year or a part of that year shall be adjusted proportionately to the part of that year first mentioned in this sub-paragraph.