Railways (Valuation For Rating) Act, 1931

Quinquennial valuations of railway undertakings.

4.—(1) The Commissioner shall on his own motion at every quinquennial revision cause to be made in respect of every railway undertaking a revision of the valuation of every railway hereditament in Saorstát Eireann forming part of such undertaking in accordance with the provisions of this Act and every valuation so made in relation to a railway undertaking is referred to in this Act as a valuation of such railway undertaking as a whole.

(2) Save as expressly provided by this Act, a valuation of a railway hereditament in Saorstát Eireann shall not be revised at any annual revision which is not a quinquennial revision.