From 1 March 2016, registration of valuers in NSW will cease. This will happen with the repeal of the Valuers Act 2003.
Reasons for the change
Ending registration for valuers follows the recommendation of the Independent Pricing and Regulatory Tribunal report - Reforming licensing in NSW. The change brings NSW in line with most other Australian states and territories. It also supports NSW Government initiatives to remove unnecessary business regulation, helping to lift productivity and drive down costs for businesses and consumers.
Pro rata refund of valuer registration fees
If you registered or renewed your valuer registration since 1 March 2014, you are entitled to a part refund of the fee you paid. If this applies to you:
- complete the Valuer registration fee pro rata refund form
- send it to the email or postal address indicated on the form so that we can organise your part refund.
For enquiries related to registration fee refunds, please call 02 9619 8700 or email email@example.com
There are various amendments to other NSW legislation that previously referred to a registered valuer. All amendments are listed in the Regulatory Reform and Other Legislative Repeals Act 2015, which can be accessed from the NSW Legislation website.
Overview of the Valuers Act 2003
The Act provides for a registration system for valuers and sets out procedures for registration and for disciplinary proceedings by the NSW Fair Trading.
The following is a brief overview of the key provisions of the Act.
- The Act covers certain types of property in addition to real property, for example, water access rights (see section 3).
- The Act provides for one category of registration as a ‘registered valuer’ (section 3).
- Registration is granted for a period of three years and must be renewed before expiry if the registered person wishes to continue practising as a valuer (see section 12).
- The Director General maintains a Register of valuers from which the public is able to obtain information about registered valuers (section 14).
- Grounds for disqualification from registration include matters such as bankruptcy, failure to pay monetary penalties, certain convictions and disqualification under other legislation (see section 9).
- ‘Show Cause’ notice provisions enable the Director General to issue a person with a notice to show cause why disciplinary action should not be taken against them (section 23). A valuer’s registration may be suspended when a show cause notice is issued (section 24).
- The Director General may publish a notice warning the public of the risks in dealing with a specified registered valuer or a person associated with the activities of valuers (section 29).
- A valuer whose registration is suspended, cancelled or made subject to a condition must notify his or her clients within three days (section 16).
- Appeals against a registration or disciplinary decision by the Director General are heard by the NSW Civil and Administrative Tribunal (NCAT). Aggrieved persons must write to the Director General to request a review of the decision. An application for review of the decision may then be made to the NCAT(see section 10; and section 52 of the Licensing and Registration (Uniform Procedures) Act 2002.