Section 105 of the Principal Act is repealed and the following section is substituted:

105.     Separate rate in subsequent year

(1)  The provisions of sections 101 , 102 , 103 and 104 do not apply if, in a financial year –

(a) a council intends to make a separate rate for the same purpose in respect of the same land; and

(b) any increase in that rate compared to the rate made in the previous financial year does not exceed any increase in the Consumer Price Index figure for that previous financial year.

(2)  If the assessed annual value, capital value or land value on which the separate rate is based is adjusted under this Act or adjusted as a result of a fresh valuation under the Land Valuation Act 1971 , a council may adjust the separate rate to take account of that adjustment.