4.—(1) For the purposes of the provisions mentioned in paragraph (2)—
(a)M(1) is prescribed as D for any chargeable day(2) for which A is not more than £50,999, but
(b)in any other case M is prescribed as B.
(2) The provisions are paragraphs 1(a) (chargeable amount before any reliefs), 2(4)(a) (charitable rate relief), 3 (improvement rate relief) and 4(4) (unoccupied hereditaments rate relief) of Schedule 5A to the Local Government Finance Act 1988.
The terms A, B, D and M are defined in paragraph 6(2), (3), (5) and (8) of Schedule 5A to the Local Government Finance Act 1988.
The term chargeable day is defined in section 54(3) of the Local Government Finance Act 1988.