New South Wales Repealed Acts

This legislation has been repealed.

VALUERS REGISTRATION ACT 1975 - SECT 24A

24A Corporations

(1) In this section, "corporation" has the same meaning as it has in the Corporations Act 2001 of the Commonwealth.

(2) Except as provided by subsection (5), a corporation shall not:

(a) practise as a real estate valuer, or

(b) advertise itself or hold itself out as being entitled or prepared to practise as a real estate valuer,

unless at least one director or one employee of the corporation is registered as a practising real estate valuer.

(3) Except as provided by subsection (6), a corporation shall not advertise that it or any person employed by it, whether in the capacity of an employee or in any other capacity, is prepared to value land, either for fee or reward or for no fee or reward, unless at least one director or one employee of the corporation is registered as a practising real estate valuer.

(4) Except as provided by subsection (7), a corporation shall not furnish to a person, either for fee or reward or for no fee or reward, a valuation of any land unless the valuation is signed by a director or an employee of the corporation who is registered as a practising real estate valuer and whose registration is not subject to a limitation with respect to the land so valued which prevents the director or employee from furnishing the valuation.

(5) A corporation shall not:

(a) practise as a valuer of licensed premises, or

(b) advertise itself or hold itself out as being entitled or prepared to practise as a valuer of licensed premises,

unless at least one director or one employee of the corporation is registered as a valuer of licensed premises or as a practising real estate valuer whose registration is not subject to any limitation with respect to licensed premises.

(6) A corporation shall not advertise that it or any person employed by it, whether in the capacity of an employee or in any other capacity, is prepared to value licensed premises, either for fee or reward or for no fee or reward, unless at least one director or one employee of the corporation is registered as a valuer of licensed premises or as a practising real estate valuer whose registration is not subject to any limitation with respect to licensed premises.

(7) A corporation shall not furnish to a person, either for fee or reward or for no fee or reward, a valuation of any licensed premises unless the valuation is signed by a director or employee of the corporation who is registered as a valuer of licensed premises or as a practising real estate valuer whose registration is not subject to any limitation with respect to licensed premises.

Maximum penalty: 10 penalty units.