<h1>Valuation by Registered Valuers establishes registration, standards and recognition framework for valuers and valuation reports.</h1> Commencement of Section 247 establishes a statutory regime requiring valuers - individuals, partnerships or companies - to register with the authority designated by the Central Government, defining categories of valuers and prescribing eligibility, qualifications, experience and mandatory membership of recognised Registered Valuers Organisations which must have governance structures to enforce a code of conduct, provide training and conduct valuation education for asset classes; the authority will register valuers, recognise RVOs, prescribe valuation standards and valuation report contents, with a transitional period allowing continued provision of valuation services until requirements are met.