Valuers Regulation 2010

The Valuers Regulation 2005 was automatically repealed on 1 September 2010 under the regulatory provisions of the Subordinate Legislation Act 1989. Hence, the 2010 Regulation has been made to support the Valuers Act 2003 as of 1 September 2010.

The aim of the Regulation is to support the consumer protection objectives of the Valuers Act 2003, enabling it to operate effectively by making provision for such matters as: definitions, penalty notices and rules of conduct. The Regulation concerns matters of an administrative or procedural nature.

The 2010 Regulation is a remake of the 2005 Regulation with minor amendments, such as clarification of intent of clauses and some minor re-ordering and rewording for simplification.

A draft Valuers Regulation 2010 and Regulatory Impact Statement were prepared and released for public comment. Comments received during the consultation process were considered before the final Regulation came into effect on 1 September 2010.