Draft Companies Registered Valuers and Valuation Rules 2017. Rules to become effective from 15th July, 2017

Draft Companies Registered Valuers and Valuation Rules 2017. Rules to become effective from 15th July, 2017

DRAFT COMPANIES REGISTERED VALUERS AND VALUATION RULES 2017

In exercise of the powers conferred by section 247 read with sections 458 and 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following Rules, namely:-

CHAPTER I
PRELIMINARY

1. Short title and commencement.
2. Definitions.

CHAPTER II
ELIGIBILITY, QUALIFICATIONS AND REGISTRATION OF VALUERS

3. Prohibition
4. Valuation Examination.
5. Eligibility
6. Qualifications and experience.
7. Application for certificate of registration.
8. Refusal to grant certificate
9. Conditions of Registration.
10. Temporary surrender.
11. Transitional Arrangement.

CHAPTER III
RECOGNITION OF VALUATION PROFESSIONAL ORGANISATIONS

12. Eligibility for valuation professional organisations.
13. Application for recognition.
14. Refusal to grant recognition
15. Conditions of Recognition

CHAPTER IV
VALUATION STANDARDS

 16. Valuation Standards. 
17. Advisory Committee
18. Valuation Report.

CHAPTER V
DISCIPLINARY PROCEEDINGS

19. Cancellation or suspension of certificate of registration or recognition.
20. Disciplinary Proceedings.

SCHEDULE I
MODEL CODE OF CONDUCT FOR REGISTERED VALUERS

Integrity and Fairness
Professional Competence and Due Care
Independence and Disclosure of Interest
Confidentiality
Information Management
Gifts and hospitality.
Remuneration and Costs.
Occupation, employability and restrictions.

SCHEDULE II  FORM A  Application for registration as a valuer by an individual 

SCHEDULE II  FORM B  Application for registration as a valuer by a partnership entity 

SCHEDULE II  FORM C  Certificate of Registration 

SCHEDULE II FORM D Application for Certificate of Recognition

SCHEDULE II FORM E Certificate of Recognition

SCHEDULE III Governance Structure and Model Bye Laws for VPOs