Local Government, Planning and Land Act 1980

8 (1) In subsection (1) of section 78 of the Housing Act 1964 (periodical payment to dispossessed proprietor) for the words from " one half" to the end of the subsection there shall be substituted the words " the product of one half of the gross value for rating purposes of the house as shown in the valuation list on the date when the control order comes into force and the appropriate multiplier ".

(2) In subsection (5) of that section for the word " For " there shall be substituted the words " Subject to subsections (5A) to (5Q below, for ".

(3) The following subsections shall be inserted after that subsection—

“(5A) For the purposes of the references in this section to the gross value of the house, that gross value, in the case of a house whose rateable value is by virtue of subsection (1) of section 19 of the General Rate Act 1967 to be taken to be its net annual value ascertained in accordance with subsections (2) to (4) of that section, is the corresponding gross value.

(5B) In subsection (5A) above "the corresponding gross value " means a gross value which would be equivalent to the net annual value of the house as shown in the valuation list if there were deducted any amounts that by virtue of an order made or falling to be treated as made under section 19(2) of the General Rate Act 1967 would be deducted from the gross value of the house if it had been required to be assessed to its gross value instead of its net annual value.

(5C) If more than one value is ascertained under subsection (5B) above to be the corresponding gross value of the house, the highest value so ascertained shall be the corresponding gross value for the purposes of the references in this section to the gross value.

(5D) In subsection (1) of this section " the appropriate multiplier " means such multiplier as the Secretary of State may by order made by statutory instrument prescribe.

(5E) A statutory instrument containing an order under subsection (5D) of this section shall be subject to annulment in pursuance of a resolution of either House of Parliament.”.