SCHEDULE 2 continued PART 7
7. The Valuation (Telecommunications) Regulations (Northern Ireland) 2003(18) shall be amended as if in regulation 2(b) for “valuation” there shall be substituted “NAV”.
8. The Valuation (Natural Gas Undertaking) Regulations (Northern Ireland) 2004(19) shall be amended as if in regulation 2(b) for “valuation” there shall be substituted “NAV”.
(This note is not part of the Order)
This Order makes consequential amendments in various statutory provisions in connection with the coming into operation of the Rates (Amendment) (Northern Ireland) Order 2006 which, among other things, provides for the charging of rates in respect of domestic properties on the basis of capital value rather than net annual value.