Valuation regulation tightened under the Companies Act with a formal authority, registered valuers, and stronger compliance controls. Section 247 is amended to place company valuation under a regulated framework administered by the Valuation Authority. Valuation is to be undertaken only by a registered valuer who meets specified qualifications, belongs to a recognised valuers' organisation, and holds a valid certificate of registration. The Valuation Authority is empowered to recognise organisations and valuers, recommend and enforce valuation standards and policies, supervise compliance, impose suspension, cancellation or penalties, and make regulations governing registration, valuation procedure, delegation and enforcement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation regulation tightened under the Companies Act with a formal authority, registered valuers, and stronger compliance controls.
Section 247 is amended to place company valuation under a regulated framework administered by the Valuation Authority. Valuation is to be undertaken only by a registered valuer who meets specified qualifications, belongs to a recognised valuers' organisation, and holds a valid certificate of registration. The Valuation Authority is empowered to recognise organisations and valuers, recommend and enforce valuation standards and policies, supervise compliance, impose suspension, cancellation or penalties, and make regulations governing registration, valuation procedure, delegation and enforcement.
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