Modernising the regulation of valuers

Proposed changes to the regulation scheme for valuers will better position it to meet current demands, Land Information Minister Michael Woodhouse said today.

The proposals are detailed in the ‘Review of the Occupational Regulation of Valuers’ discussion document released today by Land Information New Zealand (LINZ).

“The current occupational regulation scheme for valuers was established by the Valuers Act 1948, making it one of the oldest schemes in the country,” Mr Woodhouse says.

“While the scheme still works fundamentally well, there is room for improvement and for modernisation to better reflect the current environment – something that is recognised by both the government and the New Zealand Institute of Valuers (NZIV).’’

As such, LINZ – which administers the Act – began a review in 2013 in consultation with NZIV and a range of stakeholders.

“That work identified issues in a number of areas – including governance, the disciplinary process, sanctions, and renewal of registration. These, and proposals to address them, are detailed in the document released today.

“LINZ is seeking feedback on these proposals to modernise the occupational regulation scheme – which, in turn, will ensure that the public can continue to have confidence in the valuation profession.’’

People have until 26 August 2014 to comment on the proposals.

More information and instructions on how to make a submission can be found in the ‘Review of the Occupational Regulation of Valuers’ discussion document.

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