Amendments to regulation 7 (class B: existing renewable power stations)
5.—(1) Regulation 7 is amended as follows.
(2) In paragraph (2)—
(a)in sub-paragraph (b), for the words from “local” to “England” substitute “list”;
(b)for sub-paragraph (c) substitute—
“(c)the rateable value for the hereditament is greater than the notional baseline.”.
(3) After paragraph (2), insert—
“(2A) For the purposes of this regulation, the notional baseline is—
(a)for a day falling within the period beginning with 1st April 2018 and ending with 31st March 2024, the amount calculated in accordance with the formula—
where—
X is the rateable value shown for the hereditament in the list for 31st March 2013;
Y is the rateable value shown for the hereditament in the list for 1st April 2017;
Y1 is the rateable value shown for the hereditament in the list for 31st March 2017;
(b)for a day falling within the period beginning with 1st April 2024 and ending with 31st March 2026, the amount calculated in accordance with the formula—
where—
X1 is the notional baseline for 31st March 2024;
Y2 is the rateable value shown for the hereditament in the list for 1st April 2023;
Y3 is the rateable value shown for the hereditament in the list for 31st March 2023;
(c)for a day on or after 1st April 2026, the amount calculated in accordance with the formula—
where—
J is the notional baseline for the last day on which the list immediately preceding the current list was in force;
Z is the rateable value shown for the hereditament in the list for the day on which the current list was compiled;
Z1 is the rateable value shown for the hereditament in the list for the last day on which the list immediately preceding the current list was in force(1).”.
(4) In paragraph (3), omit “on 1st April 2017”.
(5) After paragraph (3), insert—
“(4) In this regulation—
“list” means a local non-domestic rating list for the area of a billing authority in England which shows the hereditament concerned;
“current list” means the list in force on the day concerned.”.
By virtue of section 41(3) of the Local Government Finance Act 1988, a list comes into force on the day on which it is compiled and remains in force until the next one is compiled.