(1) Subject to
subsection (2), land is not rateable land for the purposes of the
Local Government Act 1995 if it is —
(a)
vested in, or under the care, control or management of, a GTE; and
(b) used
or reserved exclusively for the performance of the GTE’s functions.
(2) If a GTE leases or
lets land vested in it, or under its care, control or management, the land is
by reason of the lease or tenancy rateable land for the purposes of the
Local Government Act 1995 in the hands of the lessee or tenant.