Section 14 in Companies (Registered Valuers and Valuation) Rules, 2017
14. Conditions of Recognition.
- The recognition granted under rule 13 shall be subject to the conditions that the registered valuers organisation shall-(a)at all times continue to satisfy the eligibility requirements specified under rule 12;(b)maintain a register of members who are registered valuers, which shall be publicly available;(c)admits only individuals who possess the educational qualifications and experience requirements, in accordance with rule 4 and as specified in its recognition certificate, as members;(d)make such reports to the authority as may be required by it;(e)comply with any directions, including with regard to course to be conducted by valuation organisation under clause (a) of sub-rule (2) of rule 12, issued by the authority;(f)be converted or registered as company under section 8 of the Act, with governance structure and bye laws specified in Annexure-III, within a period of [two years] [Substituted 'one year' by Notification No. G.S.R. 925(E), dated 25.9.2018 (w.e.f. 18.10.2017).] from the date of commencement of these rules if it is an organisation referred to in proviso to sub-rule (1) of rule 12;(g)shall have the governance structure and incorporate in its bye laws the requirements specified in Annexure-III within one year of commencement of these rules if it is an organisation referred to in clause (i) of sub-rule (1) of rule 12 and existing on the date of commencement of these rules;(h)display on its website, the status and specified details of every registered valuer being its valuer members including action under rule 17 being taken against him; and(i)comply with such other conditions as may be specified by authority.
