The British Waterways Board (Rateable Values) (Scotland) Amendment Order 1988
The aggregate rateable values of the lands and heritages comprising the operational under-taking of the British Waterways Board in Scotland are, by virtue of the British Waterways Board (Rateable Values) (Scotland) Order 1985, calculated by a formula applied to the Board’s gross receipts in the years which are two and three years prior to the year in respect of which the aggregate rateable value is being determined. The formula provides however for the receipts in each year to be adjusted by reference to the retail prices index for September of that year (in order to counteract the effect of inflation).