Valuation of assets requires independent qualified valuers and periodic full and half year valuations submitted to exchanges. Regulation 21 requires an independent valuer with prescribed experience to perform full valuations (including physical inspection and Schedule V disclosures) at least once each financial year and half yearly valuations for key interim changes, with the manager submitting valuation reports to designated stock exchanges alongside financial results. Before unit issuances a recent full valuation and summary in the offer document is required. Transactions involving purchases or sales mandate specific valuations and, where proposed consideration departs materially from the valuer's assessed value, unit holder approval is required. Valuer rotation and conflict rules, and revaluation on material developments, are also prescribed.