PART II LANDS AND HERITAGES ON ROLL ON 1ST APRIL 1996

7 Amount payable as rates
Where the notional liability in respect of any lands and heritages to which this Part applies and a day in the relevant year is—
(a) more than their upper transitional limit for that day (ascertained in accordance with regulation 9 below), the amount payable as rates in respect of those lands and heritages and that day shall, subject to Part V below, be that upper transitional limit;
(b) less than their lower transitional limit for that day (ascertained in accordance with regulation 10 below), the amount so payable shall, subject to that Part, be that lower transitional limit.