Part 4Business improvement districts
Procedure
50Approval in ballot
(1)
BID proposals are not to be regarded as approved by a ballot held for the purposes of section 49(1) unless two conditions are satisfied.
(2)
The first condition is that a majority of the persons voting in the ballot have voted in favour of the BID proposals.
(3)
The second condition is that A exceeds B.
(4)
A is the aggregate of the rateable values of each hereditament in respect of which a person voting in the ballot has voted in favour of the BID proposals.
(5)
B is the aggregate of the rateable values of each hereditament in respect of which a person voting in the ballot has voted against the BID proposals.
(6)
For the purposes of subsections (4) and (5), the rateable value of a hereditament is that shown on the day of the ballot under section 42(4) of the Local Government Finance Act 1988 (c. 41).