In this Act—

• “business” includes—

  1. (a)

     a trade, profession or employment; and

  2. (b)

     any activity carried out by a body of persons whether corporate or unincorporate;

• whether or not carried on for gain or reward; but land shall not be deemed to be used for the purpose of business by reason only that the lessee carries on the business of subletting any part of the permanent buildings on the land, whether or not the provision of any services is undertaken in connection with such subletting;

• F2“capital value” means capital value for the purposes of the Rates (Northern Ireland) Order 1977 and shall be construed in accordance with Article 39 of that Order;

• F3“capital value list” has the meaning given by Article 40(1)(b) of the Rates (Northern Ireland) Order 1977;

• “development” has the meaning assigned to it by section 9F4 of the Planning (Interim Development) Act (Northern Ireland) 1944 M1;

• “fee simple” does not include the estate in land of a person who holds the land under a fee farm grant;

• F5“ground rent” means a rent under a lease where—

  1. (a)

     the rent was created before 9th September 1951 and does not exceed F60.01265 per cent. of the capital value of the land or, in a case where the land F7appears in a NAV list, does not exceedF8 one seventy-sixth of its net annual value;

  2. (b)

     the rent was created after 8th September 1951 and does not exceed F90.04065 of the capital value of the land or, in a case where the land F10appears in a NAV list, does not exceedF8 one thirty-second of its net annual value,

  and for this purposeF11 “NAV list” has the meaning assigned to it by Article F1240(1)(a) of the Rates (Northern Ireland) Order 1977;

• “immediate lessor” means the person for the time being entitled to the next superior estate in the land held by the lessee;

• “interest in land” means any estate in land not being a fee simple;

• “Lands Tribunal” means the Lands Tribunal for Northern Ireland;

• “lease” means an instrument in writing, whether or not under seal, containing a contract of tenancy in respect of land in consideration of a rent or return, and includes a fee farm grant;

• “lessee” means an individual who holds land under a lease and includes the personal representatives and successors in title of a lessee and includes a trustee where a beneficiary under the trust would be a person to whom section 1 applies if he were a lessee;

• “lessor” includes the personal representatives and successors in title of a lessor;

• “Ministry” means the Ministry of Home AffairsF13;

• “mortgage” includes any charge on any property for securing money or money's worth; and mortgage money means money, or money's worth, secured by a mortgage; and mortgagor includes any person from time to time deriving title under the original mortgagor, or entitled to redeem a mortgage, according to his estate, interest, or right, in the mortgaged property; and mortgagee includes any person from time to time deriving title under the original mortgagee; and “mortgagor” and “mortgagee” shall be construed accordingly;

• “superior lessor” means a person entitled to an estate in land held by a lessee which is superior to the estate of the person from whom the lessee holds the land.