Rating And Valuation, England Citation and commencement 1 These Regulations may be cited as the Non-Domestic Rating (Northern Line Extension) Regulations 2015 and come into force on 18th March 2015. Interpretation 2 In these Regulations— “the 1988 Act ” means the Local Government Finance Act 1988; “the Agreement” means the agreement entitled the “Standby Refinancing Facility Agreement in respect of the Northern Line Extension to Battersea Power Station” between the Treasury and the Greater London Authority dated 30th January 2014 as amended and restated by deed executed on 1st September 2014 ; “designated area” means an area designated by regulation 3 and Schedule 1; “local list” means a list compiled and maintained in accordance with section 41 of the 1988 Act (local rating lists); “non-domestic rating income” has the meaning given by Schedule 2; “preceding year” means the year immediately preceding the year for which a calculation under these Regulations is being made; “relevant billing authority” means a billing authority in England all or part of whose area falls within a designated area; “small business non-domestic rating multiplier”, in relation to a year, means the small business non-domestic rating multiplier for the year determined under Part 1 of Schedule 7 to the 1988 Act (non-domestic rating multipliers); and “specified year” means a year falling within the period specified in regulation 4 or 5(1). Designation of areas 3 The areas referred to in Schedule 1 are designated for the purposes of these Regulations. Period of designation 4 The designations made by regulation 3 and Schedule 1 take effect on 1st April 2016 and remain in effect for a period of 25 years beginning with that date. Additional period of designation 5 1 The designations made by regulation 3 and Schedule 1 take effect on the first day of the first year after the conditions in paragraph (2) are met and remain in effect for a period of five years beginning with that date. 2 The conditions are that— a 1st January 2041 has elapsed; b a Permanent Shortfall, as agreed between the Greater London Authority and the Treasury in accordance with the Agreement, exists in relation to the NLE Loans incurred by the Greater London Authority for the purposes of financing the design, construction and commissioning of the extension to the Northern Line from Kennington to Battersea power station; c the Treasury has made the first Advance to the Greater London Authority pursuant to the Agreement; and d the Greater London Authority has made an application in writing to the Treasury for the purposes of this regulation pursuant to clause 4.3 of the Agreement. 3 These Regulations will cease to have effect at the end of the period mentioned in regulation 4 if all of the conditions specified in paragraph (2) are not met by the end of that period. 4 “Permanent Shortfall”, “NLE Loans” and “Advance” each have the meaning given in the Agreement. Calculation of the proportion of non-domestic rating income to be disregarded 6 1 Schedule 2 contains rules for the calculation, in relation to each relevant billing authority and for each specified year, of a proportion of the authority’s non-domestic rating income in respect of the designated area or areas within which all or part of the authority’s area falls. 2 The amount calculated in accordance with Part 1 of Schedule 2 in relation to a relevant billing authority for a specified year in respect of a designated area is to be disregarded for the purposes of the calculations under the following provisions of Schedule 7B to the 1988 Act as those provisions apply to the authority for the year— a paragraph 6 (payments in respect of the central share); b regulations under paragraph 7 (administrative arrangements for payments in respect of the central share); c regulations under paragraph 9 (payments by billing authorities to major precepting authorities); d regulations under paragraph 10 (administrative arrangements for payments by billing authorities to major precepting authorities); e paragraph 13 (calculations following local government finance report); f paragraph 16 (calculations following amending report); g paragraph 23 (calculations of levy payments); h paragraph 26 (calculations of safety net payments); i regulations under paragraph 28 (calculations of payments on account); j paragraph 30 (calculations relating to distribution of remaining balance). We consent to the making of these Regulations Alun Cairns Gavin Barwell Two of the Lords Commissioners of Her Majesty’s Treasury 23rd February 2015 Signed by authority of the Secretary of State for Communities and Local Government Kris Hopkins Parliamentary Under Secretary of State Department for Communities and Local Government 24th February 2015