Section 2(1) in Companies (Registered Valuers and Valuation) Rules, 2017
(1)In these rules, unless the context otherwise requires -(a)"Act" means the Companies Act, 2013 (18 of 2013);(b)"authority" means an authority specified by the Central Government under section 458 of the Companies Act, 2013 to perform the functions under these rules;(c)"asset class" means a distinct group of assets, such as land and building, machinery and equipment, displaying similar characteristics, that can be classified and requires separate set of valuers for valuation;(d)"certificate of recognition" means the certificate of recognition granted to a registered valuers organisation under sub-rule (5) of rule 13 and the term "recognition" shall be construed accordingly;(e)"certificate of registration" means the certificate of registration granted to a valuer under sub-rule (6) of rule 6 and the term "registration" shall be construed accordingly;(f)"partnership entity" means a partnership firm registered under the Indian Partnership Act, 1932 (9 of 1932) or a limited liability partnership registered under the Limited Liability Partnership Act, 2008 (6 of 2009);(g)"Annexure" means an annexure to these rules;(h)"registered valuers organisation" means a registered valuers organisation recognised under sub-rule (5) of rule 13;(i)"valuation standards" means the standards on valuation referred to in rule 18; and(j)"valuer" means a person registered with the authority in accordance with these rules and the term "registered valuer" shall be construed accordingly.
