Section 3 of the Principal Act is amended as follows:

(a) by inserting the following definition after the definition of application date :

assessed market value means the assessed market value of a perpetual taxi licence determined in accordance with section 11 ;

(b) by omitting the definition of capped value ;

(c) by inserting the following definition after the definition of perpetual taxi licence :

radio room means a room or other area used for –

(a) accepting bookings for taxis from members of the public; and

(b) transmitting messages by telecommunication to taxis;