Partnership Firm/Companies shall be ineligible to be a registered valuer if it is not a member of RVO; MCA
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- Last Updated on 24 November, 2022
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Notification No. GSR ……. (E), Dated 21.11.2022
The Ministry of Corporate Affairs has notified the Companies (Registered Valuers and Valuation) Amendment Rules, 2022. As per the amended norms, the partnership entity or company shall be ineligible to be a registered valuer if it is not a member of Registered Valuers Organisation (RVO). Also, it shall not be a member of more than one such registered valuers organisation at a given point of time.
The partnership entity or company, already registered as valuers as on the date of the commencement of these rules shall comply with these rules within 6 months from the date of commencement.
Further, new rules namely rule 7A and rule 14A have been added w.r.t intimation of changes to the authority.
As per rule 7A a registered valuer shall intimate the authority for a change in the personal details, any modification in the composition of partners or directors or any modification in any clause of the partnership agreement or memorandum of association, which may affect the registration of registered valuer, after paying fee as specified in the notification.
As per rule 14A a registered valuers organisation shall intimate the authority for change in the composition of its governing board, or its committees or appellate panel or other details, after paying fee as specified in the notification.
These rules shall come into force from the date of publication in the Official Gazette.
Click Here To Read The Full Notification
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