Under paragraph 3(2) of Schedule 6 to the Local Government Finance Act 1988 (“the 1988 Act”), the National Assembly for Wales, in exercise of the powers given to the Secretary of State and now exercisable by the National Assembly for Wales in relation to Wales, may by Order provide in the case of non-domestic hereditaments to be shown in the central rating list for Wales that the normal rules of valuation for rating, contained in paragraphs 2 to 2C of that Schedule, shall not apply and instead that their rateable value shall be such as is specified in the Order or determined in accordance with the prescribed rules.

Under paragraph 3(2) of Schedule 6 to the 1988 Act, the National Assembly for Wales made the Water Undertakers (Rateable Values) (Wales) Order 2000, the BG plc (Rateable Value) (Wales) Order 2000 and the Railtrack Plc (Rateable Value) (Wales) Order 2000. These three Orders disapplied the normal rules of valuation for the rating of property in Wales owned by the relevant undertakings and substituted alternative methods for calculation of the respective rateable values.

Under sections 41(2) and 52(2) of the 1988 Act a local and central non-domestic rating list respectively was compiled on 1st April 1990 and must be compiled on 1st April in every fifth year after that date. The date on which the rateable value is to be determined is set by paragraph 2(3)(b) of Schedule 6 to the 1988 Act and under this provision the National Assembly for Wales has provided, by virtue of the Rating Lists (Valuation Date)(Wales) Order 2002 (“the 2002 Order”), that the valuation date for the purposes of the 2005 rating lists, will be 1st April 2003.

This Order amends the Water Undertakers (Rateable Values) (Wales) Order 2000, the BG plc (Rateable Value) (Wales) Order 2000 and the Railtrack Plc (Rateable Value) (Wales) Order 2000 to limit the application of the same to the non-domestic rating lists for Wales compiled on 1 April 2000, in order that the necessary revaluations in accordance with the 2002 Order may be undertaken.