CAIRR Update November 24, 2022

Home/ Update November 24, 2022

CAIRR Update November 24, 2022

November 24, 2022

Summary of the Notification issued by MCA dated 21/11/2022.

MCA issues Notification to further amend the Companies (Registered Valuers and Valuation) Rules, 2017

Key highlights of the Notification are as follows:

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 organisation.
  • it shall not be a member of more than one such registered valuer organisation at a given point of time.
  • If the partnership entity or company has already registered itself as Registered Valuers, they shall comply within six months of commencement of these Rules, which is 21/11/2022.

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 organisation.

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.

The said rules shall come into force from the date of their publication in the Official Gazette.

Click here to view BSE Circular

By | 2022-11-25T10:59:50+00:00 November 25th, 2022||0 Comments

About the Author:

Leave A Comment

Schedule a demoGo to CAIRRSubscribe to Newsletter