April 15, 2020
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Valuation profession: proposal for a statutory National Institute to set standards, exams, registration and discipline.
The Committee proposes enactment of a Valuers Act to establish a National Institute of Valuers as principal regulator to register and regulate Valuers, Valuer Institutes and Valuation Professional Organisations; conduct central screening and qualifying examinations; prescribe valuation standards and a Code of Conduct; issue Certificates of Practice; and operate a two tier co regulatory architecture with separation of quasi legislative, quasi judicial and executive functions, supported by transparency, accountability, public consultation on regulations, time bound disciplinary procedures and transitional arrangements for existing registered valuers and organisations.