31Statutory water undertakings.
(1)The rateable values of the hereditaments in any rating district which are occupied for the purposes of a statutory water undertaking otherwise than as dwellings (hereafter in this section and in Schedule 4 to this Act referred to as " water hereditaments " of the undertaking) shall be ascertained in accordance with the provisions of the said Schedule 4.
(2)In the year following that in which new valuation lists first come into force after the commencement of this Act, the Minister shall, in consultation with such associations of local authorities as appear to him to be concerned, with any local authority with whom consultation appears to him to be desirable, and with any association of statutory water undertakers, cause investigations to be made into the effect of the operation of, and of the enactments re-enacted by, this section and the said Schedule 4; and the Minister shall cause to be laid before Parliament a report on the investigations made under this subsection and their result.
(3)In this section and the said Schedule 4, the expression " statutory water undertakers " has the same meaning as in the provisions of the [1945 c. 42.] Water Act 1945 other than Part II thereof, and references to statutory water undertakings shall be construed accordingly.