In these Regulations—

• “the 1988 Act” means the Local Government Finance Act 1988;

• “baseline amount”, in relation to the billing authority, means the amount calculated under Part 3 of Schedule 2 in respect of the designated area for a specified year;

• “billing authority” means the billing authority in England part of whose area falls within the designated area;

• “designated area” means the area designated under regulation 3(1);

• “local list” means a local non-domestic rating list3;

• “non-domestic rating income”, in relation to the billing authority, means the amount calculated under Part 2 of Schedule 2 in respect of the designated area for a specified year;

• “preceding year” means the chargeable financial year4 immediately preceding the specified year for which a calculation under Part 3 of Schedule 2 is made;

• “revaluation year” means a year in which a local list must be compiled under section 41 of the 1988 Act;

• “Schedule 7B” means Schedule 7B to the 1988 Act;

• “small business non-domestic rating multiplier”, in relation to a chargeable financial year, means the small business non-domestic rating multiplier for that year determined under Part 1 of Schedule 7 to the 1988 Act5; and

• “specified year” means, in relation to the designated area, a chargeable financial year falling within the period of years specified in relation to that area in regulation 3.