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(1)Any provision of any enactment directing that the amount of any water rate shall or may be determined by reference to the rateable value of any property as appearing in the valuation list for the time being in force, shall, as from the appointed day, have effect as if for any reference to that value there were therein substituted a reference to the net annual value as so appearing.
(2)Where by any enactment, including this section, the amount of any water rate is to be determined by reference to the gross value or the net annual value of any property as appearing in the valuation list for the time being in force, then, if the value referred to does not appear in the valuation fist, it shall, as from the appointed day, be determined in the event of any dispute by two justices of the peace in like manner as disputes are determined under section sixty-eight of the [10 & 11 Vict. c. 17.] Waterworks Clauses Act, 1847.
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