(1)  A general rate may consist of 2 components –

(a) one which is based on the value of the rateable land; and

(b) the other which is a fixed charge.

(2)  If a council makes a general rate which consists of the 2 components, the fixed charge –

(a) must apply equally to each rateable land assessment; and

(b) must be calculated so that the total revenue raised from it does not exceed an amount equal to 50% of the council's general rates for the year to which the fixed charge relates.