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6.—(1) Regulation 8 is amended as follows.
(2) In paragraph (2)—
(a)in sub-paragraph (b), for the words from “local” to “England” substitute “list”;
(b)for sub-paragraph (c), substitute—
“(c)the rateable value for the hereditament is greater than the notional baseline; and”.
(3) After paragraph (2), insert—
“(2A) For the purposes of this regulation, the notional baseline is—
(a)for a day falling within the period beginning with 1st April 2018 and ending with 31st March 2024, the amount calculated in accordance with the formula—
where—
X is the notional 31st March 2013 rateable value in respect of the hereditament determined in accordance with Schedule 1 or 2 (as the case may be);
Y is the rateable value shown for the hereditament in the list for 1st April 2017;
Y1 is the rateable value shown for the hereditament in the list for 31st March 2017;
(b)for a day falling within the period beginning with 1st April 2024 and ending with 31st March 2026, the amount calculated in accordance with the formula—
where—
X1 is the notional baseline for 31st March 2024;
Y2 is the rateable value shown for the hereditament in the list for 1st April 2023;
Y3 is the rateable value shown for the hereditament in the list for 31st March 2023;
(c)for a day on or after 1st April 2026, the amount calculated in accordance with the formula—
where—
J is the notional baseline for the last day on which the list immediately preceding the current list was in force;
Z is the rateable value shown for the hereditament in the list for the day on which the current list was compiled;
Z1 is the rateable value shown for the hereditament in the list for the last day on which the list immediately preceding the current list was in force.”.
(4) In paragraph (3), omit “on 1st April 2017”.
(5) After paragraph (3), insert—
“(4) In this regulation, “list” means a local non-domestic rating list for the area of a billing authority in England which shows the hereditament concerned.”.
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