36APower to require valuation or other evidence

36A Power to require valuation or other evidence

36A Power to require valuation or other evidence

(1) For a relevant purpose, the Chief Commissioner may do any one or more of the following—

(a) require, by written notice, the following to give to the Chief Commissioner evidence of the value of property or consideration that the Chief Commissioner considers appropriate—

(i) an applicant for a first home owner grant,

(ii) an applicant for participation in a shared equity scheme,

(b) have a valuation made of any property or consideration by a person the Chief Commissioner is satisfied is suitably qualified to provide evidence of the value of property or consideration,

(c) adopt any available valuation made of the property or consideration by a person the Chief Commissioner is satisfied is suitably qualified to provide evidence of the value of property or consideration.

(2) The Chief Commissioner may recover from the applicant the cost of obtaining a valuation of property under subsection (1)(b) if—

(a) the value of the property in the valuation obtained by the Chief Commissioner differs from the value of the property provided by the applicant by at least 10%, or

(b) the applicant fails to comply with a written notice given to the applicant under subsection (1)(a)(ii) within 60 days after the notice is issued.

(3) The Chief Commissioner may require the Valuer-General to make a valuation for the purposes of this section.

(4) In this section—

applicant includes a former applicant.

relevant purpose means—

(a) determining the total value of a transaction, or

(b) the administration of a shared equity scheme.

s 36A: Ins 2009 No 51, Sch 3 [18]. Am 2015 No 48, Sch 1.13 [1] [2]; 2022 No 63, Sch 2[12]–[14].