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17.—(1) Where the rateable value of lands and heritages to which this Part applies is increased with effect from a day in the relevant year subsequent to 1st April 1995, the upper and lower transitional limits in respect of those lands and heritages shall, as regards days in that year on and after that effective day, be calculated in accordance with the formula—
where—
TL is the upper, or as the case may be the lower, transitional limit in respect of those lands and heritages and the day immediately prior to the effective day;
IRV is the increased rateable value of those lands and heritages; and
RV is their rateable value immediately prior to the effective day.
(2) Where the rateable value of lands and heritages to which this Part applies is reduced with effect from a day in the relevant year subsequent to 1st April 1995, as a result of—
(a)a material change of circumstances (within the meaning of section 37(1) of the 1975 Act(1)); or
(b)the assessor amending or adding an apportionment note under paragraph 2 of Schedule 5 to the 1992 Act,
the upper and lower transitional limits in respect of those lands and heritages shall, as regards days in that year on and after that effective day, be calculated in accordance with the formula—
where—
TL and RV have the same meanings as in paragraph (1) above; and
RRV is the reduced rateable value of those lands and heritages.
The relevant definition in section 37(1) was amended by the Rating and Valuation (Amendment) (Scotland) Act 1984 (c. 31), section 20 and Schedule 2, paragraph 17, by the Abolition of Domestic Rates Etc. (Scotland) Act 1987 (c. 47), Schedule 6, and (prospectively) by the Local Government etc. (Scotland) Act 1994, Schedule 13, paragraph 100(8).
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