Change in rateable value for defined class of hereditaments on or after 1 April 1995
34.—(1) Where regulation 33 applies in respect of a defined class of hereditaments, paragraph (2) applies where for a day on or after 1 April 1995 the rateable value shown in the central list for the class of hereditaments is greater than the amount J determined in accordance with this regulation.
(2) Where this paragraph applies, regulation 33 applies as regards the class of hereditaments for the day as if the reference to
were a reference to—
(3) Where regulation 33 applies, paragraph (4) applies in respect of a defined class of hereditaments where for a day on or after 1 April 1995 the rateable value shown in the central list for the class of hereditaments is less than the amount J determined in accordance with this regulation.
(4) Where this paragraph applies, regulation 33 shall have effect as regards the class of hereditaments for the day as if the reference to
were a reference to—
(5) For the purposes of the provisions substituted by paragraphs (2) and
(4) (a) B is the non-domestic rating multiplier for the relevant year in which the day falls;
(b)C is the number of days in the relevant year;
(c)J is the amount found by the formula (A − RF) in accordance with regulation 30 as modified, in a case where Schedule 4 applies, by paragraph 4 of that Schedule;
(d)N is the rateable value shown for the class of hereditaments for the day in the central list; and
(e)BL and AF have the meanings given in regulation 32(2).