6. Section 13 of the Principal Act is amended by omitting subsections (1) and (2) and substituting the following subsections:
“(1) Rates are imposed in respect of each parcel of rateable land in the City Area, other than prescribed land, at the rate of 1.312% per annum of its unimproved value.
“(2) Rates are imposed in respect of—
(a) each parcel of rateable land outside the City Area; and
(b) each parcel of prescribed land;
at the rate of 0.656% per annum of its unimproved value.”.