1Procedure for valuing railway hereditaments in England

(1)As from the appointed day the provisions of the Rating and Valuation Acts relating to the ascertainment of the values of hereditaments shall, save as expressly provided by this Act, cease to apply in the case of railway hereditaments in England occupied by a railway company to which this Act applies, and the values for rating purposes of all such hereditaments shall be the values thereof as ascertained in accordance with the provisions of this Act.

(2)The railway companies to which this Act applies are the several amalgamated companies constituted under the [11 & 12 Geo. 5. c. 55.] Railways Act, 1921, and the Metropolitan Railway Company, and any other railway company to which it is applied by a scheme submitted and approved in accordance with the provisions contained in the First Schedule to this Act.

(3)For the purposes of this Act—