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6329 · GI/2017

3874 · II

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3117M · #t Aft

2 · They shall come into force on the date of their publication in the Official Gazette.

4 · Qualifications and experience ~ An individual shall have the following qualifications and experience to be eligible for registration under rule 3, namely:-

3 · The syllabus, format and frequency of the valuation examination, including qualifying marks, shall be published on the website of the authority at least three months before the examination:

6 · Application for certificate of registration ~ (1) An individual eligible for registration as a registered valuer under rule 3 may make an application to the authority in Form-A of Annexure-II along with a non-refundable application fee of five thousand rupees in favour of the authority. (2) partnership entity or company eligible for registration as registered valuer under rule 3 may make an application to the authority in Form-B of Annexure-II along with non-refundable application fee of ten thousand rupees in favour of the authority

8 · Conduct of Valuation: = (1) The registered valuer shall, while conducting a valuation, comply with the valuation standards as notified or modified under rule 18-

10 · Functions of a Valuer_ A valuer shall conduct valuation required under the Act as per these rules and he may conduct valuation as per these rules if 'required under any other law or by any other regulatory authority.

12 · Eligibility for registered valuers organisations. (1) An organisation that meets requirements under sub- rule (2) may be recognised as registered valuers organisation for valuation of a specific asset class or asset classes if _

13 · Application for recognition ~ (1) An eligible organisation which meets the conditions specified in rule 12 may make an application for recognition as a registered valuers organisation for asset class O classes to the authority in Form-D of the Annexure-II along with a non-refundable application fee of rupees one lakh in favour of the authority

14 · Conditions of Recognition: The recognition granted under rule 13 shall be subject to the conditions that the registered valuers organisation shall -

15 · Cancellation Or suspension of certificate of registration Or recognition - The authority may cancel O suspend the registration of a valuer or recognition of registered valuers organisation for violation of the provisions of the Act; any other law allowing him to perform valuation, these rules o any condition of registration Or recognition, as the case may be in the manner specified in rule 17.

16 · Complaint against registered valuer or registered valuers organisation .- complaint may be filed against registered valuer Or registered valuers organisation before the authority in person or by post Or courier along with non-refundable fees of rupees one thousand in favour of the authority and the authority shall examine the complaint and take such necessary action as it deems fit:

17 · Procedure to be followed for cancellation or suspension of registration or recognition certificate: Based on the findings of an inspection Or investigation, or complaint received or 0n material otherwise available on record, if the authorised officer is of the prima facie opinion that sufficient cause exists to cancel or suspend the registration of a valuer or cancel or suspend the recognition of a registered valuers organisation, it shall issue a show cause notice to the valuer Or registered valuers organisation;:

18 · Valuation Standards: The Central Government shall notify and may modify (from time t0 time) the valuation standards on the recommendations of the Committee set up under rule 19.

19 · Committee to advise on valuation matters: The Central Government may constitute a Committee to be known as "Committee to advise on valuation matters to make recommendations 0n formulation and laying down of valuation standards and policies for compliance by companies and registered valuers.

20 · Punishment for contravention:- Without prejudice to any other liabilities where person contravenes any of the provision of these rules he shall be punishable in accordance with sub-section (3) of section 469 of the Act

21 · Punishment for false statement: If in any report; certificate or other document required by, O for, the purposes of any of the provisions of the Act Or the rules made thereunder O these rules, any person makes statement; which is false in any material particulars, knowing it to be false; O1 b which omits any material fact; knowing it to be material he shall be liable under section 448 of the Act.

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1 · Title (Mr/Mrs/Ms):

2 · Name:

5 · Date of Birth:

7 · . AADHAAR No_

10 · Permanent Address

11 · E-Mail Address

12 · Mobile No:

2 · Professional Qualifications [excluding valuation specific courses] Professional Institutel Membership No. (if Date of enrolment Qualification Professional Body applicable) [excluding valuation specific education/courses]

7 · _

1 · Name:

5 · Permanent Address:

6 · E-Mail Address

7 · . Telephone No.=

8 · Others:

1 · Name:

7 · . Passport No.

8 · Address for Correspondence:

10 · E-Mail Address

11 · Mobile No_

12 · Others:

13 · Educational Qualifications [Please provide educational qualifications from Bachelor's degree onwards for each partner/director]

2 · Professional Qualifications for each partner/director Professional Institutel Membership No. (if Qualification Professional Bodyl applicable) registered valuers organisation

13 · Have you O any of your partners/directors ever been convicted for an offence? (Yes Or No) If yes, please give details

2 · This certificate shall be valid from [insert start date].

10 · An individual may apply for enrolment as a member by submitting an application in such form, in such manner and with such fees as may be specified by the Organisation:

5 · The Organisation may reject an application if the applicant does not satisfy the criteria for enrolment o does not remove the deficiencies or submit additional documents Or information t0 its satisfaction, for reasons recorded in writing:

8 · An applicant aggrieved of a decision rejecting his application may appeal to the Membership Committee of the Organisation within thirty days from the receipt of such decision:

11 · The Organisation may require the members to pay a fixed sum of money as its annual membership fee.

12 · (1) The Organisation shall maintain a register of its professional members, containing their-

2 · The records relating to member shall be made available for inspection tO -

14 · The Organisation shall have Code of Conduct that shall be consistent with; and that shall provide for all matters in the Code of Conduct as specified in the Annexure-I.

15 · The Organisation shall have Monitoring Policy to monitor the professional activities and conduct of members for their adherence to the provisions of the Act; rules, regulations and guidelines issued thereunder, these bye- laws, the Code of Conduct and directions given by the Governing Board.

16 · member shall submit information about ongoing and concluded engagements as registered valuer; in the manner and format specified by the Organisation, at least twice year stating inter alia, the date of assignment; date of completion and reference number of valuation assignment and valuation report:

17 · The Monitoring Committee shall review the information and records submitted by the members in accordance with the Monitoring Policy.

18 · The Monitoring Policy shall provide for the following

19 · The Monitoring Policy shall

21 · The Organisation shall have a Grievance Redressal Policy providing the procedure for receiving, processing; redressing and disclosing grievances against the Organisation O any member of the Organisation by-

25 · (1) The Governing Board shall constitute an Appellate Panel consisting of one independent director of the Organisation, one member each from amongst the persons of eminence having experience in the field of law and field of valuation, and one member nominated by the authority.

26 · (1) A member shall make an application for temporary surrender of his membership of the Organisation at least thirty days before he-

27 · (1) A_ member who wishes to surrender his membership of the Organisation may do SO by submitting an application for surrender of his membership.

28 · Any fee that is due to the Organisation from member surrendering his membership shall be cleared prior to his name being struck from the registers of the Organisation:

29 · The Organisation may refuse to accept the surrender of membership by any member if

30 · A member shall be expelled by the Organisation_