Chargeable amount for defined class of hereditaments
33.—(1) The chargeable amount for a chargeable day which is a relevant day for a class of hereditaments to which this regulation applies shall be found in accordance with the rules prescribed in paragraph (2) in place of the provisions of section 54(4) to (7) of the Act.
(2) Where this regulation applies, the chargeable amount for the chargeable day shall be calculated by applying the formula—
(3) For the purposes of this regulation —
(a)BL has the meaning given in regulation 32(2)(b);
(b)AF has the meaning given in regulation 32(2)(c); and
(c)C is the number of days in the relevant year.
(4) Where regulation 34(2) or (4) applies, this regulation has effect subject to the provisions of regulation 34.