|2||Subject||Companies (Registered Valuers and Valuation) Rules, 2017|
|3||Brief description||In exercise of the powers conferred by section 247 read with section 458,459 and 469 of the Company’s Act, 2013, the Central Government hereby makes the following rules further to amend the Companies (Registered Valuers and Valuation) Rules, 2017|
1. Additional requirement for a Partnership entity or Company for registration as a Registered Valuer:
* It has to be a member of a registered valuers organization.
2. Intimation of changes by the registered valuer to authority: Where there is any change with respect to personal details or any modifications in the composition of partners or directors, or any modification in any clause of the partnership agreement or MOA which may affect registration of registered valuer, or where there is a change in composition of its governing board, or its committees or appellate panel, the Registered value shall intimate the same to the authority, after paying the prescribed fees.
3. Valuation Standards: The valuer shall make valuations as per internationally accepted valuation standards or as per the valuation standards adopted by any registered valuer’s organization.
4. MCA has further issued a clarification relating to surrender of membership and expulsion from membership that a member functioning as a whole-time director in the company registered as valuer shall not be treated as taking up employment for the purpose of this provision.