Section 38

For the purposes of this section electric lines, meters, accumulators, fittings, works and equipment disposed of by the Board on terms of payment by instalment shall, until the whole of the instalments have been paid, be deemed to be electric lines, meters, accumulators, fittings, works and equipment let on hire by the Board.

Nothing in this section shall affect the amount of assessment for rating of any premises upon which any electric lines, meters, accumulators, fittings, works and equipment are or shall be fixed.