ANNEXURE C.1
FURTHER SPECIFIC RULES IN RESPECT OF PROFESSIONAL VALUER, PROFESSIONAL ASSOCIATED VALUER AND CANDIDATE VALUER
(REFER TO PART VIII)
A.1 Academic examination
Without derogating from anything contained in the Rules, and in addition, a registered person wishing to be registered as a professional valuer must for the purposes of section 20(2)(a)(ii) of the Act, with effect from 1 April 2019, or within such further period as the council may determine in general or in a particular case, be in possession of a four year degree in property valuation recognised or accredited by the council in terms of section 13(b) of the Act, or a degree recognised by the council together with a national diploma in real estate recognised or accredited by the council in terms of section 13(b) of the Act.
[Item A1 inserted by rule 3(a) of Board Notice 235 of 2013 dated 29 November 2013]
A2. Application to lift restrictions
With effect from 21 November 2016, a professional associated valuer registered with restrictions may not apply to council to have the restrictions lifted. A professional associated valuer who qualifies may sit for a professional valuer admission examination and passing the examination will obviate the restrictions.
[Item A2 substituted by rule 6(a) of Board Notice 166 of 2016 dated 21 October 2016]
1. Admission examinations
| (1) | Subject to subitem 2 the following examinations are hereby prescribed as a test of practical competence, proficiency and experience in property valuation— |
| (a) | for a professional valuer, the admission examination for professional valuers; or |
| (b) | for a professional associated valuer, the admission examination for professional associated valuers; and |
| (2) | The following minimum periods of registration apply to a registered person wishing to be admitted to an examination referred to in subitem (1)— |
| (a) | three years from the date of his/her registration if he/she was registered without a prescribed or recognized academic examination or qualification; or |
| (b) | two years from the date of his/her registration if he/she was registered with a prescribed or recognized academic examination or qualification. |
[Item 1 substituted by rule 3(a) of Board Notice 235 of 2013 dated 29 November 2013]
2. Required practical experience
The practical experience in property valuation contemplated in section 20(2)(a)(iii) of the Act in respect of a person applying for registration as a professional is as follows, namely, that the applicant concerned—
| (a) | has attended a practice orientated workschool administered by the council or its nominee, and where appropriate and deemed necessary by the council, passed the examination conducted at the end thereof; |
[Item 2(a), substituted by rule 2(a) of Board Notice 45 of 2012 dated 30 March 2012]
| (b) | has gained practical experience of work in property valuation in the Republic of the scope, variety, nature and standard set out in this Annexure; and |
| (c) | if registered as a candidate valuer before 1 April 2002, has passed a practical examination approved by the council, or if registered as such on or after that date, has passed the Admission Examination referred to in item 1(a) or (b), as the case may be. |
| 3. | Required scope, variety, nature and standard of practical experience It is the responsibility of a candidate valuer and his or her supervisor, recorded and confirmed as such in terms of item 6, to ensure that the candidate valuer gains a sufficient scope, variety, nature and standard of practical experience of work in property valuation by having him or her exposed to as many of the following as possible: |
| (a) | Purposes of property valuations: |
| (iii) | Investment and financial statements; |
| (iv) | Land reform (restitution, development tenure and redistribution); |
| (v) | Mortgage bond and security; |
| (vi) | Municipal rating (mass valuations) and endowments; |
| (vii) | Purchase, sale, estate and municipal objection; and |
| (viii) | Rental determination. |
[Item 3(a) substituted by rule 6(b) of Board Notice 166 of 2016 dated 21 October 2016]
| (i) | Business property cluster, comprising— |
| (bb) | commercial and office land; |
| (cc) | commercial and office buildings; |
| (dd) | Industrial buildings; |
| (ff) | general residential land (for flats); |
| (hh) | partially developed townships; |
| (ii) | potential township land; |
| (jj) | sectional title schemes and share block schemes; |
| (kk) | small holdings (commercial and industrial uses); and |
| (ii) | Farm or agricultural property cluster, comprising— |
| (aa) | Farms (including forests); |
| (bb) | Agricultural small holdings |
| (cc) | land on which mines are situated; and |
| (iii) | Single residential property cluster, comprising— |
| (aa) | Individual single residential units; |
| (bb) | sectional title & share block; |
| (dd) | single residential land (including land for special type properties); and |
| (ee) | small holding/ (plots); (residential use) |
| (iv) | Special type or miscellaneous property cluster, e.g., museums, public schools, public health facilities and any other properties of a specific or special nature. |
[Item 3(b) substituted by rule 6(c) of Board Notice 166 of 2016 dated 21 October 2016]
| 4. | Assessment of practical experience |
| (1) | To assess, for the purposes of section 20(2)(a)(iii) of the Act, the practical experience of work in property valuation of an applicant applying in terms of section 20 of the Act in the category of professional valuer or professional associated valuer, the relative weights set out in Annexure B in respect of the various types of properties listed in item 3, for the different purposes of property valuations so listed, shall be applied to the number of property valuations provided and substantiated by the applicant in his or her application form submitted by him or her, and shall be processed electronically to determine a total weight, which, together with the various types of properties valued by the applicant for different purposes of property valuations shall form the basis for assessment. |
| (2) | In the electronic process referred to in subitem (1), the number, to a maximum of 100, provided and substantiated by an applicant in each cell reflected in Annexure B, shall be multiplied by the relative weight concerned and the aggregate of the resulting calculations shall be divided by 100 to determine the final outcome. |
| 5. | Application of assessment outcome |
As a general norm, the minimum outcome reached in the assessment referred to in item 4, shall—
| (a) | in the case of registration as a single residential property assessor, be a weight of 40 and one type of property valued for one purpose of property valuation; and |
| (b) | in the case of registration as a professional associated valuer (restricted/registered with conditions) permitted to performing valuation for single residential property cluster or valuations for one purpose, be a weight of 80 and three types of properties valued for one purpose of property valuation; and |
| (c) | in the case of registration as a professional associated valuer (restricted/ registered with conditions) permitted to performing valuations other than those referred to in paragraph (b) above, be a weight of 130 and four types of properties valued for three purposes of property valuation; and |
| (d) | in the case of registration as a professional valuer, be a weight of 190, and nine types of properties valued for four purposes of property valuation. |
[Item 5 substituted by rule 6(d) of Board Notice 166 of 2016 dated 21 October 2016]
| 5A. | Additional requirements |
Without derogating from the provisions of this Annexure, the council may, in order to be satisfied that a person applying for registration as a professional, and with due regard to his or her application as a whole, require that that person—
| (a) | gain further practical experience of work in property valuation in general or in respect of any purpose of property valuation or type of property valuation referred to in paragraph (a) or (b) of item 3, respectively, including the time during which he or she must gain such experience; |
| (b) | perform a minimum of one property valuation assignment, consisting of the performance of any type of property referred to in paragraph (b) of item 3, including a fully motivated written valuation report or reports, thereof, determined by the council; |
| (c) | submit at least one certified copy of a property valuation report done by him or her, as identified by the council; |
| (d) | appear before the council for a personal interview regarding his or her experience in property valuation work; or |
| (e) | submit any information or document relevant to his or her application, as identified by the council. |
[Item 5A inserted by rule 2(b) of Board Notice 45 of 2012 dated 30 March 2012]
6. Supervision and control
| (1) | For the purposes of this Annexure, the professional under the supervision and control of whom a candidate valuer must perform his or her work as provided for in section 19(3) of the Act, shall be a professional valuer or professional associated valuer without restrictions, recorded and confirmed as such by the council ("supervisor/mentor"). |
| (2) | The supervisor/mentor shall countersign all property valuation reports and other documentation relating to work in property valuation, prepared by the candidate valuer, as verification of the fact that the supervisor/mentor has exercised the supervision and control contemplated by the said section 19(3) in respect of that work. |
| (3) | Only work in property valuation done under supervision and control in accordance with subitem (1), shall be taken into account by the council for the purposes of the assessment referred to in item 4. |
| (1) | Subject to subitems (1) and (4), any professional associated valuer who, on 1 July 2013 |
| (a) | was registered as such without a restriction or a condition; and |
| (b) | complied in all respects with the conditions relating to continuing education and training ("CET"), published in Board Notice 12 of 2007, Government Gazette No. 29611 of 16 February 2007, applicable to him or her, |
may, as a once off concession, apply to the council to be exempted from the Admission Examination for Professional Valuers referred to in item 1(a) and/or the minimum outcome referred to in item 5(a);
[Item 7(1) substituted by rule 2(a) of Board Notice 135 of 2013 dated 12 July 2013]
| (2) | The application contemplated in subitem (1), must— |
| (a) | be in the prescribed application form or any other manner or format determined by the council; |
| (b) | be made on or before 31 December 2013, or within such further period as the council may determine in a particular case; |
| (i) | the prescribed registration fee and any other fee or charge the council considers necessary; |
| (ii) | any information or document relevant to the application as identified by the council, including his or her curriculum vitae. |
(3) The council may—
| (a) | require the applicant to appear before the council for a personal interview regarding any matter concerning his or her application; and |
| (b) | grant, refuse (with written reasons), or defer the application on the conditions it deems fit. |
| (4) | By virtue of section (2)(a)(ii) of the Act concession referred to in subitem (1) does not apply to a person who is not in possession of an academic examination or qualification prescribed or recognized by the council. |
[Item 7(4) inserted by rule 2(b) of Board Notice 135 of 2013 dated 12 July 2013]
| (5) | An application in terms of subitem (1) received from a person referred to in subitem (4) on or before 12 July 2013, or within such further period the council may determine in a particular case, shall be dealt with in accordance with the Act and the Rules. |
[Item 7(5) inserted by rule 2(b) of Board Notice 135 of 2013 dated 12 July 2013]
[Item 7 inserted by rule 4 of Board Notice 79 of 2013 dated 10 May 2013]
