4.—(1) In relation to an advertising hereditament, in applying the provisions of sub-paragraphs (1) to (7) of paragraph 2 of Schedule 6 to the Act it shall be assumed that the grant or reservation of the right of which the hereditament consists included the grant or reservation of a right to use any structure or sign for the time being available for use for the purpose of exhibiting advertisements by the occupier of that hereditament,notwithstanding that the structure or sign was provided by that occupier or was provided after the making of the grant or reservation concerned.
(2) In arriving at an amount of estimated rent under paragraph 2(1), (1A) or (1B) of Schedule 6 to the Act in respect of any land (within the meaning of section 64(2) of the Act) over which an advertising right is exercisable, no account shall be taken of any value or, as the case may be, increased value arising from the use of the land for the purpose of exhibiting advertisements in accordance with that right.
(3) Where any hereditament rateable in respect of its occupation for other purposes is used temporarily or permanently for, or for the erection thereon or attachment thereto of any structure used for, the exhibition of advertisements other than in pursuance of an advertising right, in arriving at an amount under paragraph 2(1), (1A) or (1B) of Schedule 6 in respect of that hereditament the increased value from that use of the hereditament shall be taken into account.
(4) In this regulation–
“advertising hereditament” means a hereditament consisting of a right to which section 64(2) of the Act applies; and “advertising right” means a right which is such a hereditament, and
“structure” includes a hoarding, frame, post or wall.