diff --git a/pallets/subtensor/src/staking/decrease_take.rs b/pallets/subtensor/src/staking/decrease_take.rs
index 8742f809db..c227aad8a3 100644
--- a/pallets/subtensor/src/staking/decrease_take.rs
+++ b/pallets/subtensor/src/staking/decrease_take.rs
@@ -57,7 +57,11 @@ impl<T: Config> Pallet<T> {
         // --- 4. Set the new take value.
         Delegates::<T>::insert(hotkey.clone(), take);
 
-        // --- 5. Emit the take value.
+        // --- 5. Set last block for rate limiting
+        let block: u64 = Self::get_current_block_as_u64();
+        Self::set_last_tx_block_delegate_take(&hotkey, block);
+
+        // --- 6. Emit the take value.
         log::debug!(
             "TakeDecreased( coldkey:{:?}, hotkey:{:?}, take:{:?} )",
             coldkey,
diff --git a/pallets/subtensor/src/staking/increase_take.rs b/pallets/subtensor/src/staking/increase_take.rs
index 0218184471..349f86e7cf 100644
--- a/pallets/subtensor/src/staking/increase_take.rs
+++ b/pallets/subtensor/src/staking/increase_take.rs
@@ -61,14 +61,14 @@ impl<T: Config> Pallet<T> {
         let block: u64 = Self::get_current_block_as_u64();
         ensure!(
             !Self::exceeds_tx_delegate_take_rate_limit(
-                Self::get_last_tx_block_delegate_take(&coldkey),
+                Self::get_last_tx_block_delegate_take(&hotkey),
                 block
             ),
             Error::<T>::DelegateTxRateLimitExceeded
         );
 
         // Set last block for rate limiting
-        Self::set_last_tx_block_delegate_take(&coldkey, block);
+        Self::set_last_tx_block_delegate_take(&hotkey, block);
 
         // --- 6. Set the new take value.
         Delegates::<T>::insert(hotkey.clone(), take);
diff --git a/pallets/subtensor/src/tests/staking.rs b/pallets/subtensor/src/tests/staking.rs
index e5ed95f41d..5d9db9f4e8 100644
--- a/pallets/subtensor/src/tests/staking.rs
+++ b/pallets/subtensor/src/tests/staking.rs
@@ -1671,6 +1671,70 @@ fn test_rate_limits_enforced_on_increase_take() {
     });
 }
 
+// Test rate-limiting on an increase take just after a decrease take
+// Prevents a Validator from decreasing take and then increasing it immediately after.
+#[test]
+fn test_rate_limits_enforced_on_decrease_before_increase_take() {
+    new_test_ext(1).execute_with(|| {
+        // Make account
+        let hotkey0 = U256::from(1);
+        let coldkey0 = U256::from(3);
+
+        // Add balance
+        SubtensorModule::add_balance_to_coldkey_account(&coldkey0, 100000);
+
+        // Register the neuron to a new network
+        let netuid = 1;
+        add_network(netuid, 1, 0);
+        register_ok_neuron(netuid, hotkey0, coldkey0, 124124);
+
+        // Coldkey / hotkey 0 become delegates with 9% take
+        Delegates::<Test>::insert(hotkey0, SubtensorModule::get_min_delegate_take() + 1);
+        assert_eq!(
+            SubtensorModule::get_hotkey_take(&hotkey0),
+            SubtensorModule::get_min_delegate_take() + 1
+        );
+
+        // Decrease take
+        assert_ok!(SubtensorModule::do_decrease_take(
+            RuntimeOrigin::signed(coldkey0),
+            hotkey0,
+            SubtensorModule::get_min_delegate_take()
+        )); // Verify decrease
+        assert_eq!(
+            SubtensorModule::get_hotkey_take(&hotkey0),
+            SubtensorModule::get_min_delegate_take()
+        );
+
+        // Increase take immediately after
+        assert_eq!(
+            SubtensorModule::do_increase_take(
+                RuntimeOrigin::signed(coldkey0),
+                hotkey0,
+                SubtensorModule::get_min_delegate_take() + 1
+            ),
+            Err(Error::<Test>::DelegateTxRateLimitExceeded.into())
+        ); // Verify no change
+        assert_eq!(
+            SubtensorModule::get_hotkey_take(&hotkey0),
+            SubtensorModule::get_min_delegate_take()
+        );
+
+        step_block(1 + InitialTxDelegateTakeRateLimit::get() as u16);
+
+        // Can increase after waiting
+        assert_ok!(SubtensorModule::do_increase_take(
+            RuntimeOrigin::signed(coldkey0),
+            hotkey0,
+            SubtensorModule::get_min_delegate_take() + 1
+        )); // Verify increase
+        assert_eq!(
+            SubtensorModule::get_hotkey_take(&hotkey0),
+            SubtensorModule::get_min_delegate_take() + 1
+        );
+    });
+}
+
 #[test]
 fn test_get_total_delegated_stake_after_unstaking() {
     new_test_ext(1).execute_with(|| {
diff --git a/runtime/src/lib.rs b/runtime/src/lib.rs
index fa47d5be21..a8774795b9 100644
--- a/runtime/src/lib.rs
+++ b/runtime/src/lib.rs
@@ -228,7 +228,7 @@ pub const VERSION: RuntimeVersion = RuntimeVersion {
     //   `spec_version`, and `authoring_version` are the same between Wasm and native.
     // This value is set to 100 to notify Polkadot-JS App (https://polkadot.js.org/apps) to use
     //   the compatible custom types.
-    spec_version: 243,
+    spec_version: 244,
     impl_version: 1,
     apis: RUNTIME_API_VERSIONS,
     transaction_version: 1,