[SCHEDULE B1 Setting the Rate for Section B1(1): Scotland]
Damages Act 1996 (1996 c 48) | Legislation

[SCHEDULE B1 Setting the Rate for Section B1(1): Scotland]

[(introduced by section B1(3))]

[Regular review of rates of return

1

(1)     The rate-assessor must review any original rate of return.

(2)     A review under sub-paragraph (1) must be started by the rate-assessor on the appointed day.

(3)     For the purpose of this paragraph—

(a)     an original rate of return is—

(i)     a rate of return to which paragraph 27(1) applies, or

(ii)     the position of there being no rate of return to which paragraph 27(1) applies,

(b)     the appointed day is [1 July 2019].

2

(1)     The rate-assessor must review every subsequent rate of return.

(2)     A review under sub-paragraph (1) must be started by the rate-assessor—

(a)     on the day after the last day of the 5-year period, or

(b)     earlier within the 5-year period as is required by the Scottish Ministers.

(3)     Where a review under sub-paragraph (1) is started earlier by virtue of sub-paragraph (2)(b), it is to be treated as an extra review that does not affect the running of the 5-year period in relation to the previous review (and no 5-year period runs under sub-paragraph (2)(a) in relation

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