The City of London (Non-Domestic Rating Multiplier) Order 1990

• Citation: S.I. 1990/340
• Sections: 4

Section 1 Citation and commencement

This Order may be cited as the City of London (Non-Domestic Rating Multiplier) Order 1990, and shall come into force on 28th February 1990.

Section 2 Interpretation

In this Order—

“ the Act ” means the Local Government Finance Act 1988,

“the Distribution Report” means The Revenue Support Grant Distribution Report (England) made by the Secretary of State for the Environment on 20th December 1989 under section 80 of the Act.

Section 3 Required minimum multiplier

The required minimum for the Common Council’s non-domestic rating multiplier for the chargeable financial year beginning in 1990 is the figure equal to 95.905 per cent of the non-domestic rating multiplier specified for the year in accordance with Part I of Schedule 7 to the Act.

Section 4 Required maximum multiplier

(1) The required maximum for the Common Council’s non-domestic rating multiplier for the chargeable financial year beginning in 1990 is the figure calculated in accordance with the formula

where—

A is the required minimum for the Common Council’s non-domestic rating multiplier calculated for the year in accordance with article 3 of this Order,

B is 99% of the amount by which the amount calculated by the Common Council under section 95(4) of the Act for the year exceeds the standard spending assessment calculated for the Council for the year in accordance with the provisions of the Distribution Report, and

C is the total of the rateable values shown in the Common Council’s local non-domestic rating list which the valuation officer for the authority proposes to compile on 1st April 1990 and which he has sent to the authority under section 41(5) of the Act , multiplied by 0.966.

(2) In calculating the required maximum under paragraph (1), a part of a whole (if any) shall be calculated to three decimal places only—

(a) adding one thousandth where (apart from this paragraph) there would be more than five ten-thousandths, and

(b) ignoring the ten-thousandths where (apart from this paragraph) there would be five, or less than five, ten-thousandths,

provided that if the resulting figure would be equal to or less than the required minimum for the year, this paragraph shall apply as if in sub-paragraph (a) for “more than five” there were substituted “one or more” and sub-paragraph (b) were disregarded.