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4. In this Part—
“accounting period” in relation to an undertaking, means the period by reference to which the accounts of the undertaking are compiled;
“adjusted balance” in relation to an undertaking and a period, means 92.5 per cent. of the adjusted income of the undertaking for the period less 100 per cent. of its adjusted expenditure for the period;
“adjusted expenditure” in relation to an undertaking and a period, means the amount of relevant expenditure of the undertaking for the period multiplied by P/Y
and “adjusted income” in relation to an undertaking and a period means the amount of relevant income of the undertaking for that period multiplied by P/Y where—
P is the retail prices index for September 2000, and
Y is the retail prices index for the September falling during the period in question, unless the base month for the index for that September differs from the base month for the index for September 2000, in which case, Y is the figure which would have been the index for the September falling during the period if the base month for the index had been the same in both cases;
“relevant balance” in relation to an undertaking and a period, means 92.5 per cent. of the relevant income of that undertaking for the period, less 100 per cent. of its relevant expenditure for the period;
“relevant expenditure” in relation to an undertaking and a period, means all expenditure included, or falling to be included, in the revenue or profit and loss account of the undertaking for the period, whether derived from the operations carried on under the statutory provision by which the dock is authorised or otherwise, other than—
expenditure in respect of pilotage;
expenditure—
in relation to investments required to be shown in the accounts of the undertaking (other than expenditure in relation to investments in subsidiary companies);
consisting of, or relating to, interest payable in respect of borrowing;
consisting of payments for, or in connection with, the management of property which is let out and which is, or forms part of, a separate hereditament;
expenditure incurred in respect of the disposal of land;
amounts written off in respect of depreciation;
“relevant income” in relation to an undertaking and a period means all income by way of revenue included, or falling to be included, in the revenue or profit and loss account of the undertaking for the period, whether derived from the operations carried on under the statutory provision by which the dock is authorised or otherwise, but excluding—
income in respect of pilotage;
income from—
investments required to be shown in the accounts of the undertaking (other than investments in subsidiary companies);
loans or deposits;
rent or other payments receivable in consideration of the grant of permission for occupation or use of any property of the undertaking, or rights over such property, which is, or forms part of, a separate hereditament; and
any sum receivable in respect of the disposal of land;
“relevant preceding year” means the year ending immediately before the year in question;
“retail prices index” means the general index of retail prices (for all items) published by the Office for National Statistics; and if that index is not published for a month for which it is relevant for the purposes of this Part, this Part shall be taken to refer to any substituted index or index figures published by that Office;
“subsidiary” has the meaning given by Article 4 of the Companies (Northern Ireland) Order 1986.
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