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40.—(1) The Commissioner shall maintain a list of hereditaments (in this Order referred to as a “valuation list”) prepared, and from time to time altered, by him in accordance with this Part.
(2) Without prejudice to the provisions of this Part and subject to any other statutory provision, the following particulars shall be entered in a valuation list:—
(a)the net annual value of every hereditament;
(b)such other particulars as may be prescribed with respect to every hereditament; and
(c)the total of net annual values of all hereditaments in each district.
(3) A valuation list may be maintained by recording the particulars in question in such manner as the Department directs.
(4) Subject to any other statutory provision, where a hereditament is situated partly in one district and partly in another or others, the Commissioner may treat the hereditament in a valuation list as if it were wholly situated in either or any of those districts or may apportion the net annual value of the hereditament between the several districts.
(5) Subject to any alteration duly made under this Part, every valuation list shall remain in force until it is superseded by a new valuation list.
(6) No alteration shall be made in a valuation list except by the Commissioner in accordance with the provisions of this Order or to give effect to an order of a court of competent jurisdiction.
(7) Subject to paragraph (8), the valuation list in accordance with which, under Article 6(3)( b), any rate falls or fell to be made, shall be conclusive evidence for the purposes of the making and levying of that rate of the values of the several hereditaments included in the list, and, where any such values are apportioned in the list between different parts or uses of the hereditament, of the respective apportioned values.
(8) Without prejudice to Article 6(3)( b)(i), as respects any period during which, under this Order, an alteration in the valuation list referred to in paragraph (7) has or is deemed to have had effect, the reference in paragraph (7) to that list shall be construed as a reference to that list as so altered.
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