SCHEDULE 7RATEABLE VALUES OF HEREDITAMENTS
Industrial hereditaments (except fishing hereditaments) and freight-transport hereditaments
F14.
(1)
This paragraph applies to industrial hereditaments F2....
(2)
Where a hereditament to which this paragraph applies is distinguished in F3the NAV list as being occupied and used wholly for industrial purposes, its F4rateable net annual value shall be F5 subject to sub-paragraph (3) nil F6or such percentage of its net annual value as the Department may by order subject to affirmative resolution specify.
F5(3)
For the purposes of sub-paragraph (2) the F7rateable net annual value of a hereditament for any year specified in this sub-paragraph shall be the following percentage of its net annual value—
(a)
for 2005-2006, 15 per cent.;
(b)
for 2006-2007, 25 per cent.;
(c)
for 2007-2008, F830 per cent.;
(d)
for 2008-2009, F930 per cent.;
(e)
for 2009-2010, F930 per cent.;
(f)
for 2010-2011, F930 per cent..
(4)
In sub-paragraph (3) “2005-2006” means the year ending on 31st March 2006 and similar expressions shall be construed accordingly.
(5)
The Department may by order subject to affirmative resolution direct that for any percentage specified in sub-paragraph (3) there shall be substituted such other percentage as may be specified in the order.