Maximum and minimum limits for the rate of assessment

The maximum and minimum limits for the assessment rate shall respectively be one and quarter time, and three-fourth of the assessment rate in force for the time being: Provided that in the event it is considered desirable to alter the minimum or maximum limits, aforesaid, a proposal to that effect shall be laid on the table of the Legislative Assembly for its approval and the limits of assessment rate shall thereafter be altered in accordance with the proposals as approved.