PART IV MERGERS, SPLITS AND REORGANISATIONS AFTER 31ST MARCH 1996

25 Splits—amount payable as rates
1 Where lands and heritages to which this Part applies are shown in a split entry, the amount payable as rates in respect of those lands and heritages and a day in the relevant year shall, subject to regulation 26 and Part V below, be calculated in accordance with the formula—
AD×RFORV
where—
AD is the amount ascertained in accordance with paragraph (2) below;
RV is the rateable value shown in the split entry; and
ORV is the old rateable value, being the rateable value shown in the relevant old entry.
2 The amount ascertained in accordance with this paragraph is—
(a) in the case of a split entry taking effect on 1st April 1996, the amount which would have been determined (before application of Part V below) in respect of that day and the lands and heritages shown in the relevant old entry under whichever of paragraph (a) or (b) of regulation 7 above would have been applicable had the split not taken place; and
(b) in any other case, the amount determined under paragraph (a) or (b) of regulation 7 above, or as the case may be this Part, (before application of Part V below) in respect of the lands and heritages shown in the relevant old entry and the day immediately prior to the effective date of the split entry.