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4. In the case of each relevant hereditament, paragraphs 2 to 2C of Schedule 6 to the Act(1) shall not apply in any year for which the central list is in force, and the rateable value of that hereditament in any such year—
(a)for the year beginning on 1st April 2000 shall be £156.6 million for Railtrack’s hereditament and £42 million for LUL’s hereditament; and
(b)in any other such year shall be the amount produced by applying the standard formula in relation to the hereditament.
Paragraph 2 is amended by, and paragraphs 2A and 2B are inserted by paragraph 38(3) to (11) of Schedule 5 to the Local Government and Housing Act 1989. Paragraph 2C is inserted by section 2 of the Local Government and Rating Act 1997 (c. 29).
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