VALUERS, APPRAISERS AND ESTATE AGENTS RULES 1986 VALUERS, APPRAISERS AND ESTATE AGENTS RULES 1986 In

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    VALUERS, APPRAISERS AND ESTATE AGENTS RULES 1986 In exercise of the powers conferred by section 32 of the Valuers, Appraisers, Estate Agents Act 1981, the Board of Valuers, Appraisers and Estate Agents, with the approval of the Minister, makes the following rules :

    PART I PRELIMINARY

    Interpretation Rule 2 In these Rules, unless the context otherwise requires –

    “advertisement” means any material or product used in the mass media, electronic media or digital media and any published material of any kind whatsoever issued or exhibited by or, on the authority of a registered valuer, appraiser and estate agent primarily designed to promote the registered valuer’s, appraiser’s and estate agent’s business; “ Wanted Advertisement” Deleted.

    Committees Rule 8 (1) The Board may from time to time by resolution appoint

    committees from among its members or any other person and the Board may by resolution at any time dissolve any committee so appointed.

    PART III

    REGISTRATION OF PERSONS Forms of application

    Rule 17 (1) Every person desirous of being registered as a valuer, estate

    agent, probationary valuer, or probationary estate agent under the Act shall apply to the Registrar in either Form A (Valuer), Form B (Estate Agent), Form A1 (Probationary Valuer) Form B1 (Probationary Estate Agent) in the Second Schedule.

    (2) All such applications shall be accompanied with the processing

    fee prescribed in the Third Schedule. ( 3) The Board may issue guidelines on registration from time to

    time.

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    Rule 18 (1) Within seven working days of the receipt of an application for registration, the Registrar shall -

    (a) submit it to the Board; or (b) cause copies of it to be delivered to every member of

    the Board. (2) Subject to paragraph (4), the Board shall decide upon the

    application within ninety days of the date of the submission of the application or the delivery of the copies thereof under paragraph (1), as the case may be :

    Provided that the time limit prescribed in this paragraph shall not apply to applications made under Section 22A (2) of the Act.

    (3) The delivery under subparagraph (b) of paragraph (1) of a copy

    of an application to a member of the Board may be effected -

    (a) by handing it personally to the member; (b) by leaving it at the business premises or office of the

    member in the custody of -

    (i) a partner or an employee of the member; or (ii) the member’s employer; or (iii) an employee of the member’s employer; or

    (c) by sending it by ordinary post to the member to his

    home, business or office address.

    (4) The period of ninety days specified in paragraph (2) shall begin seven working days after the application is received by the Registrar. Applicant to be notified.

    Rule 19 (1) The Registrar shall notify the decision of the Board to the

    applicant by ordinary post within seven working days of the date of the decision.

    (2) The notification under paragraph (1) must state the date of the decision.

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    Registration of Probationary Valuers and Probationary Estate Agents

    Rule 20A (1) Any person whose application for registration as a probationary

    valuer or a probationary estate agent has been approved shall within ninety days of the date of notification under Rule 19, pay the registration fee as prescribed in the Third Schedule.

    (2) Failure to pay the registration fee within the period stipulated

    under paragraph (1) shall be treated as a withdrawal of the application by the applicant and no application from him shall be considered before the expiry of one year from the date on which his previous application was approved:

    Provided that the Board may consider an application received before the expiry of the aforementioned period if it is satisfied that the failure to pay the registration fee was for sufficient cause and reason.

    (3) On receipt of the prescribed fees the Registrar shall issue a

    testamentary statement indicating that the person concerned is -

    (a) a registered probationary valuer working under the

    supervision of a registered valuer in a registered valuation firm or in any other establishment as the Board may approve; or

    (b) a registered probationary estate agent working under

    the supervision of a registered estate agent in a registered estate agency firm.

    Rule 21 (3) All such authorities to practice shall be displayed in a

    conspicuous place by the registered valuer, appraiser or estate agent in his place of business registered with the Board.

    Special authority to practice valuation. Rule 22 (3) Within seven working days of the receipt of an

    application for a special authority to practice valuation the President shall decide upon the application.

    (4) Every applicant shall be notified by ordinary post of the

    decision of the President and the date of such decision within seven working days of the date of such decision.

    (5) Any person whose application for a special authority to practice

    valuation has been approved shall within fourteen working days of the date of notification pay the fee prescribed in the Third Schedule.

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    Application for renewal.

    Rule 23 (1) An application for renewal of an authority to practice issued

    under rule 21 shall be in Form D in the Second Schedule. (1A) An application under paragraph (1) shall be accompanied by -

    (a) a detailed statement of the hours attended in the Continuous Professional Development programme and copies of the relevant certificates of attendance,

    (b) a declaration that the registered valuer, appraiser or estate agent has not been adjudged a bankrupt; and

    (c) such other documents as the Board may require.

    (2) The renewal fee for an authority to practice shall be as

    prescribed in the Third Schedule.

    (3) Every applicant who applies for renewal of an authority to practice shall be notified of such renewal in Form K in the Second Schedule.

    Duplicate authority to practice. Rule 24 (1) All applications for a duplicate authority to practice shall be

    made in Form E in the Second Schedule and shall be accompanied by the prescribed fee.

    (2) The fee payable for a duplicate authority to practice shall be as

    prescribed in the Third Schedule.

    (3) An application for a duplicate authority to practice shall be accompanied with a police report made on the loss of the certificate

    Cessation of registration of a person Rule 25A (3) The registered valuer, appraiser or estate agent or his

    representative shall, not later than fourteen working days after the cessation of practice as a valuer, an appraiser or an estate agent cause such cessation to be advertised in at least one national daily newspaper and furnish a copy of the advertisement to the Board.

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    PART IIIA

    REGISTRATION OF FIRMS

    Application for registration

    Rule 25B (1) Every registered valuer, appraiser or estate agent desirous

    of practicing valuation, appraisal, or estate agency under section 23 of the Act shall apply to the Registrar in Form N in the Second Schedule.

    (2) Every application shall be accompanied by the proposed

    letterhead of the firm and the processing fee prescribed in the Third Schedule.

    Submission of application to Board Rule 25C (1) If the Registrar is satisfied that an application under rule 25B

    satisfies the requirements of section 23 of the Act and these Rules, the Registrar shall within seven working days of the receipt of the application

    (a) submit it to the Board; or (b) cause copies of it to be delivered to every member of

    the Board. (2) Subject to paragraph (4), the Board shall decide upon the

    application within thirty working days of the date of the submission of the application or the delivery of the copies thereof under paragraph (1), as the case may be.

    Consideration of application Rule 25D (1) On receipt of an application made under rule 25B, the Board

    shall satisfy itself as to the following matters; (d) that the applicant is not an undischarged bankrupt.

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    Notification of Board’s decision Rule 25E (1) The Registrar shall notify the decision of the Board to the

    applicant by ordinary post within seven working days of the date of the decision.

    (2) The notification under paragraph (1) must state the date of the

    decision.

    Registration fee Rule 25F (1) Any person whose application for registration as a valuation,

    appraisal or estate agency firm has been approved shall, within fourteen working days of the date of notification under rule 25E, pay the registration fee as prescribed in the Third Schedule.

    Authority to practice as a firm Rule 25G (3) An authority to practice shall be displayed in a conspicuous

    place by the registered firm at its place of business registered with the Board and at each of its branch offices, if any.

    Withdrawal of authority to practice as a firm Rule 25H T