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(1)�������� Schedule 7 to the 1988 Act (non-domestic rating multipliers) is amended as follows.

(2)�������� In paragraph 1 (Part 1 of Schedule 7 has effect to determine non-domestic rating multiplier) after “multiplier” there is inserted “and, in relation to England, the small business non-domestic rating multiplier”.

(3)�������� For paragraph 3 (calculation of non-domestic rating multiplier for years in which no list compiled) there is substituted—

“3

(1)�������� In relation to England, the small business non-domestic rating multiplier for a chargeable financial year shall be calculated in accordance with this paragraph if the year is not one at the beginning of which new lists must be compiled.

(2)�������� An amount shall be found in accordance with the formula—

(A × B) / C

(3)�������� Subject to sub-paragraph (5) below, that amount may be adjusted by the Secretary of State to reflect the extent to which his last estimate of the total mentioned in paragraph 5(6) or (7) below appears to him to differ from the actual total.

(4)�������� The amount under sub-paragraph (2) above or, if an adjustment is made under sub-paragraph (3) above, the adjusted amount