Companies (Registered Valuers and Valuation) Amendment, Rules, 2022 – 21st November, 2022

MCA vide its notification dated 21 st November, 2022, made amendments to the Companies (Registered Valuers and Valuation) Rules, 2017. These rules may be called as Companies (Registered Valuers and Valuation) Amendment, Rules, 2022. This Notification will come into force from the date of publication in Official Gazette.

Sr. No. Part/Chapter/Section /Sub-section(s) in the Companies Rules, 2014 Modifications Part/Chapter/Section /Sub-section(s) in the Companies Rules, 2017 Modifications Analysis 1. in rule 3, - in sub-rule (2), (i) in clause (c), for the word “ineligible”, the word “eligible” shall be substituted; All the partners or directors, as the case may be, are not ineligible eligible under clauses (c), (d), (e),2[(f)], (g), (h), (i), (j) and (k) of sub-rule (1); Self explanatory 2 . (ii) after clause (e), the following clause shall be inserted, namely:- “(f) it is not a member of a registered valuers organisation: Provided that it shall not be a member of more than one such registered valuers organisation at a given point of time: Provided further that the partnership entity or company, already registered as valuers, on the date of commencement of the Companies (Registered Valuers and Valuation) Amendment Rules, 2022, shall comply within six months of such commencement with the conditions specified under this clause.”. “(f) it is not a member of a registered valuers organisation: Provided that it shall not be a member of more than one such registered valuers organisation at a given point of time: Provided further that the partnership entity or company, already registered as valuers, on the date of commencement of the Companies (Registered Valuers and Valuation) Amendment Rules, 2022, shall comply within six months of such commencement with the conditions specified under this clause.”. With this amendment, one more criteria has been added under non-eligibility to be a registered valuer. The new criteria says any partnership entity or company shall not be eligible it is not a member of a registered valuer organization or if it is member of more than one such registered valuer organization or it is already registered as valuers. 3. In the said rules, after rule 7, the following rule shall be inserted, namely:- “7A. Intimation of changes in personal details etc., by registered valuer to authority. – A registered valuer shall intimate the authority for change in the personal details, or any modification in the composition of partners or direct