The Ministry of Corporate Affairs (MCA) on November 21, 2022 has issued the Companies (Registered Valuers and Valuation) Amendment Rules, 2022. As per the amendment a registered valuer shall intimate the authority for a change in the personal details, any modification in the composition of partners or directors, or any modification in any clause of the partnership agreement or Memorandum of Association, which may affect the registration of the registered valuer, after paying a prescribed fee.
A registered valuers organization shall intimate the authority for a change in the composition of its governing board, or its committees or appellate panel, or other details, after payment of fee. It is further clarified that a member functioning as a whole-time director in the company registered as valuer shall not be treated as an employee.
