xmlns:atom="http://www.w3.org/2005/Atom"
16.—(1) This regulation applies to lands and heritages on any day in the relevant year when–
(a)they have a rateable value exceeding £25,000; and
(b)they are not lands and heritages–
(i)to which Part II or Part III above applies; or
(ii)which have their rateable value prescribed in an order made under section 6 of the 1975 Act.
(2) The amount payable as rates in respect of lands and heritages and a day on which this regulation applies to them shall be calculated in accordance with the formula–
where–
ARP is the amount of rates payable;
RV is the rateable value of the lands and heritages on that day;
PR is the poundage rate of 0.478; and
S is the additional factor of 0.006.