44.—(1) Amend paragraph 4 of Schedule 8 (incidence of rates) as follows.N.I.
(2) In sub-paragraph (1)—
(a)for “if the rateable value is reduced” substitute “ if the amount payable by way of rates is reduced in consequence of the alteration; ”
(b)for “if the rateable value is increased” substitute “ if the amount payable by way of rates is increased in consequence of the alteration ”;
(c)omit the words “at the rate in the pound current for the time being”.
(3) After sub-paragraph (1) insert the following sub-paragraph—
“(1A) For the purposes of sub-paragraph (1)(a) the rateable value of a hereditament is altered if—
(a)the rateable net annual value or the rateable capital value is altered;
(b)the hereditament becomes liable, or ceases to be liable, to be valued upon an estimate of its net annual value or its capital value.”.