Valuers Registration Regulation 1992

Queensland Valuers Registration Act 1992 VALUERS REGISTRATION REGULATION 1992 Reprinted as in force on 1 July 2003 (includes commenced amendments up to 2003 SL No. 100) Reprint No. 1H This reprint is prepared by the Office of the Queensland Parliamentary Counsel Warning—This reprint is not an authorised copy NOT FURTHER AMENDED LAST REPRINT BEFORE REPEAL See SIA s 56A(1)(a)(i) and SIR s 5 sch 3

Information about this reprint This regulation is reprinted as at 1 July 2003. The reprint shows the law as amended by all amendments that commenced on or before that day (Reprints Act 1992 s 5(c)). The reprint includes a reference to the law by which each amendment was made—see list of legislation and list of annotations in endnotes. Also see list of legislation for any uncommenced amendments. This page is specific to this reprint. See previous reprints for information about earlier changes made under the Reprints Act 1992. A table of reprints is included in the endnotes. Also see endnotes for information about— • when provisions commenced • editorial changes made in earlier reprints. Dates shown on reprints Reprints dated at last amendment All reprints produced on or after 1 July 2002, hard copy and electronic, are dated as at the last date of amendment. Previously reprints were dated as at the date of publication. If a hard copy reprint is dated earlier than an electronic version published before 1 July 2002, it means the legislation was not further amended and the reprint date is the commencement of the last amendment. If the date of a hard copy reprint is the same as the date shown for an electronic version previously published, it merely means that the electronic version was published before the hard copy version. Also, any revised edition of the previously published electronic version will have the same date as that version. Replacement reprint date If the date of a hard copy reprint is the same as the date shown on another hard copy reprint it means that one is the replacement of the other.

Queensland VALUERS REGISTRATION REGULATION 1992 TABLE OF PROVISIONS Section Page PART 1—PRELIMINARY 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 PART 2—CODE OF PROFESSIONAL CONDUCT Division 1—Duty to client 4 Duty generally . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 5 Duty in performance of work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 6 Duty of confidentiality. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 7 Duty to disclose interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 8 Duty to sign report etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Division 2—Professional fees 9 Predetermined valuation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 10 Contingency fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 11 Fees generally . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Division 3—Professional responsibility 12 Valuation practice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 13 Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Division 4—Continuing professional development 13A CPD—Act, s 36B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 13B Amount of CPD—Act, s 42FA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 PART 3—GENERAL 14 Prescribed institutes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

2 Valuers Registration Regulation 1992 SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . FEES 8 ENDNOTES 1 Index to endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 2 Date to which amendments incorporated. . . . . . . . . . . . . . . . . . . . . . 9 3 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 4 Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 5 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 6 List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

s1 3 Valuers Registration Regulation 1992 s4 VALUERS REGISTRATION REGULATION 1992 [as amended by all amendments that commenced on or before 1 July 2003] PART 1—PRELIMINARY 1 Short title This regulation may be cited as the Valuers Registration Regulation 1992 . 2 Commencement This regulation commences on 1 May 1992. 3 Fees The fees payable under the Act are stated in the schedule. PART 2—CODE OF PROFESSIONAL CONDUCT Division 1—Duty to client 4 Duty generally A registered valuer who makes a valuation for a client— (a) must act in the client’s interests; and (b) must not do, or allow to be done, anything that— (i) benefits the valuer or a person other than the client; or (ii) disadvantages the client.

s5 4 Valuers Registration Regulation 1992 s8 5 Duty in performance of work (1) A registered valuer who does not have the qualifications and experience to make a particular valuation must not undertake to make the valuation. (2) Subsection (1) does not apply if— (a) the valuer makes the valuation under the supervision of another valuer; and (b) the other valuer has the qualifications and experience to make the valuation. 6 Duty of confidentiality (1) A registered valuer must not disclose or make use of a valuation made for a client. (2) Subsection (1) does not apply if— (a) the client gives the valuer written permission to disclose the details of the valuation; or (b) the valuer is required by law to disclose the details. 7 Duty to disclose interest If a registered valuer has an interest (whether direct or indirect) in land that is to be valued for a client, the valuer— (a) must give the client details of the valuer’s interest; and (b) must not accept instructions to make the valuation unless the client, after receiving details of the valuers’ interest, gives written approval. 8 Duty to sign report etc. A registered valuer must— (a) include in a valuation report prepared by the valuer relevant details of the valuer’s qualifications; and (b) sign the report.

s 9 5 s 12 Valuers Registration Regulation 1992 Division 2—Professional fees 9 Predetermined valuation A registered valuer must not accept instructions to make a valuation if the instructions require a predetermined result. 10 Contingency fees (1) A registered valuer who is retained for the purpose of making a valuation that is to be, or may be, used to assess the amount of compensation that is to be paid to a person, must not— (a) make payment of the fee for the valuation contingent on the amount of compensation; or (b) fix a fee for the valuation as a percentage of the amount of compensation. (2) A registered valuer who is retained for the purpose of making a valuation that is to be used to determine the rates or other charges that are to be levied on land, must not make payment of the fee for the valuation contingent upon the result of a proceeding in respect of the correctness of the valuation. 11 Fees generally (1) A registered valuer must not charge a fee for professional services that is not an appropriate fee. (2) A registered valuer must, if asked to do so by a client, give the client information about the basis for a fee charged for a valuation. (3) A registered valuer must not accept any form of payment for professional services other than the appropriate fee for the service. Division 3—Professional responsibility 12 Valuation practice A registered valuer who makes a valuation must, in making the valuation—

s 13 6 s 13A Valuers Registration Regulation 1992 (a) conform to the principles and practices of valuation stated in Professional Practice 1 published by the Australian Property Institute; and (b) take all necessary steps to obtain and verify factual data that affects or may affect the valuation. 13 Advertising (1) A registered valuer must ensure that any advertisement about a service provided by the valuer— (a) does not create false or unjustified expectations of the result of the service; and (b) is not misleading. (2) A registered valuer must not advertise in a way that, either directly or indirectly, injures the professional reputation of another valuer or damages the profession. (3) A registered valuer must not make a statement to any person that is— (a) false, malicious or misleading; or (b) calculated, either directly or indirectly, to injure the professional reputation of another valuer or to damage the profession. Division 4—Continuing professional development 13A CPD—Act, s 36B For section 36B(1)(a) of the Act, CPD is— (a) at least 10 hours spent on 1 or more of the following— (i) attending seminars, conferences, workshops, field days or addresses about property matters, conducted by professional organisations, industry bodies or employers; (ii) preparing and presenting papers about property matters; 1 The publication Professional Practice may be purchased from the Australian Property Institute at level 2, 131 Leichhardt Street, Spring Hill.

s 13B 7 Valuers Registration Regulation 1992 s 14 (iii) writing and circulating or publishing articles about property matters; (iv) holding positions on committees of professional or property industry bodies or organisations; (v) undertaking formal education about property matters; (vi) undertaking informal education about property matters by perusing appropriate journals or using audio or visual tapes; or (b) giving the board— (i) at least 2 valuation reports completed during the previous 18 months; and (ii) reasons for not acting under paragraph (a). 13B Amount of CPD—Act, s 42FA For section 42FA(b) of the Act, the amount of CPD is 5 hours. PART 3—GENERAL 14 Prescribed institutes For sections 30(b)(i) and 36B(1)(b) of the Act, each of the following bodies is a prescribed institute— (a) the Australian Property Institute; (b) the Royal Institution of Chartered Surveyors; (c) the New Zealand Property Institute.

8 Valuers Registration Regulation 1992 SCHEDULE FEES section 3 1. Inspection of register (Act, s 27) . . . . . . . . . . . . . . . . . . . . 2. Application for registration as a valuer (Act, s 29) . . . . . . 3. Certificate of registration (Act, s 34) . . . . . . . . . . . . . . . . . 4. Roll fee (Act, s 36(1)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. Late fee (Act, s 36(2)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6. Late fee (Act, s 36B(2)) . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. Application for restoration of registration as a valuer (Act, s 40) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. Application to be recorded on list of specialist retail valuers (Act, s 42B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9. Application for renewal of recording on list of specialist retail valuers (Act, s 42FA) . . . . . . . . . . . . . . . . . . . . . . . . 10. Application for restoration of recording on list of specialist retail valuers (Act, s 42GB(2)). . . . . . . . . . . . . . $ 8.45 73.00 21.10 73.00 21.10 21.10 73.00 73.00 73.00 21.10

9 Valuers Registration Regulation 1992 ENDNOTES 1 Index to endnotes Page 2 Date to which amendments incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 3 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 4 Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 5 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 6 List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 2 Date to which amendments incorporated This is the reprint date mentioned in the Reprints Act 1992, section 5(c). Accordingly, this reprint includes all amendments that commenced operation on or before 1 July 2003. Future amendments of the Valuers Registration Regulation 1992 may be made in accordance with this reprint under the Reprints Act 1992, section 49. 3 Key Key to abbreviations in list of legislation and annotations Key AIA amd amdt ch def div exp gaz hdg ins lap notfd o in c om orig p para prec pres prev Explanation = Acts Interpretation Act 1954 = amended = amendment = chapter = definition = division = expires/expired = gazette = heading = inserted = lapsed = notified = order in council = omitted = original = page = paragraph = preceding = present = previous Key (prev) proc prov pt pubd R[X] RA reloc renum rep (retro) rv s sch sdiv SIA SIR SL sub unnum Explanation = previously = proclamation = provision = part = published = Reprint No.[X] = Reprints Act 1992 = relocated = renumbered = repealed = retrospectively = revised edition = section = schedule = subdivision = Statutory Instruments Act 1992 = Statutory Instruments Regulation 2002 = subordinate legislation = substituted = unnumbered

10 Valuers Registration Regulation 1992 4 Table of reprints Reprints are issued for both future and past effective dates. For the most up-to-date table of reprints, see the reprint with the latest effective date. If a reprint number includes a letter of the alphabet, the reprint was released in unauthorised, electronic form only. TABLE OF REPRINTS Reprint No. 1 1A 1B 1C 1D 1E 1F Amendments included none to 1993 SL No. 501 to 1997 SL No. 423 to 2000 SL No. 168 to 2001 SL No. 147 to 2002 SL No. 54 to 2002 SL No. 54 Effective 1 May 1992 17 December 1993 1 January 1998 1 July 2000 20 September 2001 1 April 2002 1 May 2002 1G to 2002 SL No. 122 1 July 2002 1H to 2003 SL No. 100 1 July 2003 Reprint date 1 December 1992 2 October 1996 6 February 1998 11 July 2000 21 September 2001 3 April 2002 1 May 2002 (Column discontinued) Notes 5 List of legislation Valuers Registration Regulation 1992 SL No. 77 made by the Governor in Council on 16 April 1992 pubd gaz 17 April 1992 pp 2188–94 ss 1–2 commenced on date of publication remaining provisions commenced 1 May 1992 (see s 2) exp 31 August 2003 (see SIA s 56A(1)(a)(i) and SIR s 5 sch 3) amending legislation— Valuers Registration Amendment Regulation (No. 1) 1993 SL No. 501 notfd gaz 17 December 1993 pp 1812–21 commenced on date of notification Valuers Registration Amendment Regulation (No. 1) 1997 SL No. 423 notfd gaz 5 December 1997 pp 1515–17 ss 1–2 commenced on date of notification remaining provisions commenced 1 January 1998 (see s 2) Natural Resources Legislation Amendment Regulation (No. 2) 2000 SL No. 168 ss 1, 2(2) pt 4 notfd gaz 30 June 2000 pp 736–48 ss 1–2 commenced on date of notification remaining provisions commenced 1 July 2000 (see s 2(2))

11 Valuers Registration Regulation 1992 Natural Resources Legislation Amendment Regulation (No. 2) 2001 SL No. 147 pts 1, 12 notfd gaz 24 August 2001 pp 1526–9 ss 1–2 commenced on date of notification remaining provisions commenced 20 September 2001 (see s 2) Valuers Registration Amendment Regulation (No. 1) 2002 SL No. 54 notfd gaz 28 March 2002 pp 1177–8 ss 1–2 commenced on date of notification ss 5, 7 commenced 1 May 2002 (see s 2(2)) remaining provisions commenced 1 April 2002 (see s 2(1)) Natural Resources and Mines Legislation Amendment and Repeal Regulation (No. 1) 2002 SL No. 122 pts 1, 18 notfd gaz 31 May 2002 pp 482–7 ss 1–2 commenced on date of notification remaining provisions commenced 1 July 2002 (see s 2) Natural Resources and Mines Legislation Amendment Regulation (No. 1) 2003 SL No. 100 pts 1, 17 notfd gaz 30 May 2003 pp 371–6 ss 1–2 commenced on date of notification remaining provisions commenced 1 July 2003 (see s 2) 6 List of annotations Fees s 3 sub 2001 SL No. 147 s 34 Valuation practice s 12 amd 2002 SL No. 54 s 4 Division 4—Continuing professional development div 4 (ss 13A–13B) ins 2002 SL No. 54 s 5 Prescribed institutes s 14 sub 2002 SL No. 54 s 6 Repeal s 15 om R1 (see RA s 40) SCHEDULE—FEES sub 1993 SL No. 501 s 3; 1997 SL No. 423 s 4 amd 2000 SL No. 168 s 8 sub 2001 SL No. 147 s 35; 2002 SL No. 54 s 7; 2002 SL No. 122 s 44; 2003 SL No. 100 s 38 © State of Queensland 2003