Transitional net annual value
3. The transitional net annual value of a specified hereditament shall be determined in accordance with the formula—
where—
A is the net annual value of the hereditament which is shown immediately before the coming into operation of this Order in the valuation list then in force;
B is the conversion factor for the district in which the hereditament is situated as set out in the Schedule; and
C is the transitional net annual value.