Valuation of Land Regulations 2024

Oath or affirmation of fidelity and secrecy. Regulation 6 and Schedule 1 require that any person carrying out duties under the Act must take an oath or make an affirmation that they will perform those duties faithfully and not divulge any matter coming to their knowledge in relation to books, documents or papers inspected for valuation purposes, except to carry into effect the Act. This is not a general secrecy provision; it is specifically tied to the valuation function. The precise wording is set out, allowing for a religious oath (swearing by Almighty God or a god recognised by the person's religion) or a secular affirmation. The obligation persists beyond the individual's involvement in the particular valuation. This concept matters because it restricts the flow of information from valuers to third parties, including potentially to landowners who are not the objector in a specific process, unless the disclosure is for the purpose of the Act.

Prescribed forms for valuations. Regulations 7 and 8 prescribe the form of "returned valuations" (under section 13DH(1)) and "return of valuations" (under section 13O(1)). Both require that the valuation be electronically transmissible and contain the information required by the Valuation Best Practice Specifications Guidelines. These Guidelines are not published in the Regulations; they are an external document issued by the Valuer-General or the relevant authority. This incorporation by reference means that the substantive content of what constitutes a compliant valuation is not fully stated in the delegated legislation itself. A rating authority or valuer must locate and comply with the current version of the Guidelines, which may be updated without amendment to the Regulations. This creates a compliance burden and reduces transparency for landowners and practitioners.

Prescribed information for objections. Regulation 9 and Schedule 2 set out the information that must accompany an objection lodged under section 16(2)(a) of the Act. This is not a simple notice of objection; the objector must provide detailed data depending on the classification of the land: residential, commercial/industrial, or rural production. For commercial or industrial land, the objector must supply lease details (commencement date, term, actual rent, rent review provisions, incentives, outgoings, car parking spaces and rent). For rural production land, the objector must describe soil types, topography, vegetation, irrigation licences, dam and bore licences, fencing, pastures, water supply, and details of dwellings and improvements. This information is not merely for identification; it appears designed to allow the valuer to assess the objection substantively. The burden falls squarely on the objector, who must have access to or compile this data. For a tenant objecting, obtaining some lease details from the landlord may be difficult if the lease is not in their possession. For a rural landowner, compiling soil and vegetation data may require expert input. The practical cost of complying with Schedule 2 may deter meritorious objections, especially for lower-value properties.

Prescribed amounts. Regulation 10 sets three monetary thresholds: net annual value of $240,000, site value of $3,000,000, or capital improved value of $4,000,000. These are used in sections 16(3A)(b) and 20(1)(b) of the Act, which appear to condition certain objection referral or review rights on the property exceeding one of these values. The effect is that properties below these thresholds cannot access those particular objection pathways. The thresholds are not indexed to inflation; over the 10-year life of the Regulations, the real value of these thresholds will decline, potentially expanding access over time. But at commencement, they exclude a large number of residential and small commercial properties from the more formal objection processes. The choice of three alternative thresholds (any one of which is sufficient) provides flexibility: a property with a low net annual value but high capital improved value may still qualify.

Prescribed information to be given by the valuer. Regulation 11 requires that when a valuer responds to an objection under section 20(2), the response must include the address, the rating authority's property reference number, details of the land and improvements, a description of the valuation approach (including any sales or rentals relied on), and a response to the information in the objection. This is a transparency measure: the objector is entitled to know the method and data behind the valuation. However, the secrecy obligation in regulation 6 may cause a valuer to hesitate in providing full details, particularly if the valuation approach involves comparable sales that the valuer considers confidential. The regulation does not override the secrecy oath; it merely prescribes what must be given if the valuer responds. The interaction between the two obligations is a potential source of friction.

The Regulations directly affect three groups: persons performing valuation duties under the Act (valuers, whether employed by rating authorities or contracted), rating authorities and other bodies that must submit valuations, and landowners or occupiers who wish to object to a valuation.

Valuers. Any person appointed to carry out duties under the Act, including making valuations or inspecting land, must take the oath or affirmation of fidelity and secrecy (regulation 6) before performing those duties. This includes both internal council valuers and external contractors. The oath is a personal obligation; failure to take it may invalidate subsequent actions or expose the person to consequences under the Act (though the Regulations do not specify the penalty). Valuers also must provide the prescribed information when responding to an objection (regulation 11). This affects how they structure their response and what work product they must create.

Rating authorities. Councils and other rating bodies must ensure that returned valuations and returns of valuations are in the prescribed form (regulations 7 and 8). This means they must implement systems that produce electronic data compatible with the Valuation Best Practice Specifications Guidelines. The Guidelines may require specific data fields, formats, or transmission methods. Upgrading or maintaining these systems imposes a recurring compliance cost on councils, which is ultimately borne by ratepayers. The regulation also indirectly requires councils to ensure that valuers they engage take the prescribed oath.

Landowners and occupiers. The most significant impact on private individuals is through regulation 9 and Schedule 2. Any person wishing to object to a valuation under section 16(2)(a) must provide the information set out in Schedule 2, categorised by land type. This is a mandatory precondition; an objection that does not contain the prescribed information may be invalid. For a residential landowner, the required information is relatively modest (dwelling description, structural improvements). For commercial, industrial, or rural landowners, the burden is substantial. A commercial tenant objecting to a valuation must provide lease details that may not be readily available, including rent review provisions, incentives (e.g., rent-free periods, fit-out contributions), and outgoings responsibilities. A rural landowner must provide soil and vegetation data, irrigation licence details, and descriptions of fencing and water supply. This will often require professional assistance (surveyors, agronomists, real estate agents), adding cost to the objection process.

Small businesses and farmers are disproportionately affected because the prescribed thresholds in regulation 10 may block access to certain objection pathways for properties below $4 million capital improved value or $3 million site value. Many small commercial premises and farms fall below these thresholds, particularly in regional Victoria. They may still object under other provisions of the Act (e.g., section 16(2)(b) which may have different information requirements), but the Regulations do not prescribe those. The effect is a tiered system where higher-value properties have access to a more formalised objection process, while lower-value properties face higher relative compliance costs or restricted pathways.

Ratepayers generally are affected because the compliance costs of the Regulations are passed on through council rates and valuation service fees. The requirement for electronic transmission and adherence to external Guidelines may increase the cost of valuation contracts.

Duty to take oath or affirmation. Regulation 6 imposes a duty on any person carrying out duties under the Act to take the prescribed oath or affirmation before performing those duties. This is not optional. The duty arises under section 3A(3)(b) of the Act, which requires the Governor in Council to prescribe the form of oath or affirmation. A person who performs valuation work without having taken the oath may be acting outside their authority, potentially invalidating the valuation or exposing themselves to liability. The duty is ongoing: the oath binds the person to fidelity and secrecy for the duration of their involvement and thereafter.

Duty to submit valuations in prescribed form. Rating authorities have a duty to ensure that returned valuations (section 13DH) and returns of valuations (section 13O) are in the prescribed form. Regulation 7 and 8 set that form as electronic data containing information from the Valuation Best Practice Specifications Guidelines. This is a positive obligation; a council that submits valuations not meeting the Guidelines may be in breach of the Act. The duty extends to ensuring that the information is "able to be stored and transmitted electronically" - a standard that should be easily met with modern systems but may create issues for councils with legacy software.

Right to object, conditioned on providing prescribed information. A landowner or occupier has a right under section 16 of the Act to object to a valuation. However, if the objection is lodged under section 16(2)(a), the objector must include the information set out in Schedule 2 (regulation 9). Failure to provide this information may result in the objection being rejected as not in the prescribed form. This is not merely a procedural formality; it is a precondition to the exercise of the right. The information must be "prescribed information" as defined - the objector cannot substitute a different set of data and claim compliance. The right to object is also qualified by the monetary thresholds in regulation 10 for certain pathways. If the property's values are below all three thresholds, the objector cannot access the objection processes in sections 16(3A)(b) and 20(1)(b). They may still have other objection rights under the Act, but those are not covered by these Regulations. This creates a disparity: an objector with a property valued at $4 million capital improved value has a right to a valuer's response under section 20(2) with the prescribed information, while an objector with a $3.9 million property may not.

Right to receive prescribed information from valuer. Regulation 11 gives an objector the right to receive, when the valuer responds to the objection, a response containing specific information: address, property reference, land and improvement details, valuation approach and data (sales/rentals), and a response to the objection's content. This is a valuable transparency right. It forces the valuer to disclose the methodology and supporting evidence, enabling the objector to assess whether the valuation is sound and to decide whether to pursue further review. However, the secrecy obligation may limit the valuer's willingness to share comparable sales data that the valuer considers confidential. The regulation does not resolve this conflict; it merely states what the valuer must provide "if appropriate". The qualifier "if appropriate" (in regulation 11(e)) gives the valuer some discretion. An objector should be prepared to argue that a response is appropriate in their case.

No duty on objector to provide information beyond Schedule 2. The Regulations do not require the objector to provide any other information. They cannot be required to produce valuation reports or expert evidence at the objection stage. The prescribed information is the full extent of what must be supplied. However, if the objector fails to provide any item listed in Schedule 2 (e.g., lease incentives for commercial land), the objection may be incomplete. The objector must carefully follow the classification of their land (residential, commercial/industrial, or rural production) and provide all items under that classification.

The Regulations themselves do not prescribe monetary penalties, imprisonment terms, or infringement notices. The power to impose penalties for non-compliance with these Regulations would arise from the Valuation of Land Act 1960, or possibly from the general offences provisions in the Victorian Crimes Act or the local government legislation. The Act is not reproduced here, so we cannot state what penalties apply. However, several consequences flow from non-compliance that may be more significant than any fine.

Invalidation of valuations. If a rating authority fails to submit returned valuations in the prescribed form (regulations 7 and 8), the valuations may not be legally effective. Section 13DH(1) of the Act likely conditions the validity of the valuation on compliance with the prescribed form. This could affect the rating authority's ability to levy rates based on those valuations. A ratepayer could challenge the rate notice on the ground that the valuation was not made in accordance with the Act. This risk gives councils a strong incentive to comply, even though the Regulations do not expressly state a penalty.

Invalidation of objections. If an objector fails to include all prescribed information (regulation 9 and Schedule 2), the objection may be rejected as not in the prescribed form under section 16(2)(a) of the Act. The Act does not give the rating authority discretion to waive this requirement; it is a condition precedent. The objector would lose the right to have the objection considered, and may lose the opportunity to object altogether if the statutory timeframe for lodging objections has expired. This is a harsh enforcement mechanism: a procedural omission can defeat a substantive right. There is no provision in the Regulations for curing a defective objection. The objector must provide all required information at the time of lodgement.

Breach of oath or affirmation. A valuer who breaches the oath of fidelity and secrecy (regulation 6) by disclosing information outside the scope of the Act may face consequences under the Act or under general law. The Act probably contains an offence of unauthorised disclosure (section 3A or similar). The Regulations do not create the offence; they merely prescribe the oath. But taking the oath subjects the person to the legal obligations associated with it. A breach could result in criminal prosecution, removal from office, or civil liability for breach of confidence. The practical risk for valuers is that they may inadvertently disclose information in the course of responding to objections (regulation 11) that goes beyond what is necessary to carry into effect the Act, and may be held to have breached the oath.

No prescribed penalties for valuers failing to provide prescribed information. Regulation 11 requires the valuer to provide certain information when responding to an objection, but the Regulations do not specify a penalty for non-compliance. The objector's remedy would be to seek an order under the Act compelling the valuer to respond, or to treat the lack of response as grounds for appeal. The absence of a direct penalty may weaken the incentive for valuers to comply fully, particularly if they are concerned about the secrecy oath.

Enforcement by the Valuer-General. The Act gives the Valuer-General oversight of valuations. The Regulations, by requiring compliance with the Valuation Best Practice Specifications Guidelines, give the Valuer-General a tool to enforce uniform standards across rating authorities. If a council's valuations do not conform to the Guidelines, the Valuer-General could direct compliance or take other action. This is a form of regulatory enforcement separate from penalties on individuals.

Valuation of Land Act 1960. This is the primary Act that the Regulations serve. The Regulations prescribe matters that the Act leaves open: section 3A(3)(b) (oath), section 13DH(1) (prescribed form for returned valuations), section 13O(1) (prescribed form for return of valuations), section 16(2)(a) (prescribed information for objections), sections 16(3A)(b) and 20(1)(b) (prescribed amounts), and section 20(2) (prescribed information from valuer). The Regulations do not amend the Act; they operationalise it. Any person applying the Act must read the relevant sections alongside these Regulations. The Regulations do not purport to override any provision of the Act.

Subordinate Legislation Act 1994. The Regulations are subject to the automatic sunset provision in section 5 of that Act, which provides that statutory rules (other than exempted ones) sunset 10 years after the date of making. The endnotes confirm that these Regulations will sunset on 17 September 2034. This means that if new regulations are not made before that date, the provisions of the Act that rely on regulations will become inoperative. The 10-year cycle forces periodic review, but also creates uncertainty for stakeholders who rely on the procedural framework. The sunset does not invalidate actions taken under the Regulations before the sunset date; it only prevents new actions after that date.

Interpretation of Legislation Act 1984. The endnotes explain that the style changes and interpretive rules in that Act apply to these Regulations. For example, headings form part of the Regulations; examples, diagrams, notes and punctuation form part; provision numbers form part. This is relevant for legal interpretation: if there is ambiguity, the headings and examples may be used to resolve it. Practitioners should not ignore the headings in Schedule 1 and Schedule 2 when interpreting the requirements.

Valuation Best Practice Specifications Guidelines. This external document is incorporated by reference into regulations 7 and 8. It is not published as part of the Regulations and is not reproduced in the endnotes. The Guidelines are likely issued by the Valuer-General and may be updated from time to time without amendment to the Regulations. This creates a dynamic regulatory framework, but it also imposes a burden on rating authorities and valuers to keep track of the current version. For landowners and their advisors, it is difficult to assess whether a valuation was in the prescribed form without access to the Guidelines. This interaction reduces transparency and may increase compliance costs. The validity of the incorporation by reference depends on the Interpretation of Legislation Act and the Subordinate Legislation Act; if the Guidelines are not properly accessible, there may be an argument that the regulations are invalid for uncertainty. However, that challenge has not been tested in the source.

Other land valuation and rating laws. The Regulations do not directly interact with the Local Government Act 2020, the Land Tax Act 2005, or other statutes that use valuations derived from the Act. Those statutes will refer to valuations made under the Valuation of Land Act, but they do not incorporate these Regulations. However, the procedural validity of those valuations depends on compliance with these Regulations. If a valuation is invalid because it was not in the prescribed form, any tax or rate based on it may be challengeable.

Freedom of Information Act 1982 (Vic). The secrecy obligation in regulation 6 may intersect with FOI requests. The oath prohibits disclosure of information except for the purpose of carrying into effect the Act. An FOI request for valuation data held by a council may be refused on the basis that the valuer's duty of secrecy prevents disclosure, or that the Valuation of Land Act contains a secrecy provision that overrides FOI (section 38 of the FOI Act). The Regulations do not address this directly, but practitioners should be aware of the potential conflict.

The source text states that there are no amendments made to the Valuation of Land Regulations 2024 by statutory rules, subordinate instruments and Acts. This is unsurprising given the Regulations came into operation on 27 September 2024 and the version date is the same date. The Regulations are a fresh instrument that revokes and replaces the Valuation of Land Regulations 2014 (S.R. No. 148/2014). The 2014 Regulations would have contained similar provisions, but the text of the 2024 Regulations is not necessarily identical. The absence of amendments means there is no track record of legislative adjustments to respond to practical problems or court decisions.

The Regulations were made on 17 September 2024 by the Governor in Council under section 52 of the Act. The 2014 Regulations were revoked from the commencement date. The 10-year sunset period under the Subordinate Legislation Act means that by 2034, a new set of regulations will need to be made, or the current ones will lapse. The history of the 2014 regulations (which lasted a full 10 years) suggests a stable framework, but it also means that any deficiencies in the 2024 regulations will persist for a decade unless amended. The lack of amendments so far is a neutral fact; it does not indicate that the regulations are problem-free.

The endnotes include a "Table of Amendments" that is blank. This is standard for a new regulation. Future amendments will be listed there when they occur. Practitioners should monitor that table when using an updated version of the regulations. The current version (001) reflects the original text.

The revocation of the 2014 regulations (regulation 4) means that all previous prescribed forms, oaths, objection information requirements, and monetary thresholds ceased to have effect on 27 September 2024. Any actions taken under the old regulations that were valid before that date remain valid (unless the Act provides otherwise). Objections lodged under the old regulations after the revocation would be invalid. The transition is not addressed in the Regulations; the Act may have transitional provisions, but they are not in this source.

The source text does not record any litigation involving the Valuation of Land Regulations 2024. Because the Regulations are only days old at the version date, there has been no opportunity for litigation. The predecessor regulations (2014) may have been the subject of cases, but those are not mentioned and therefore cannot be discussed in a source-grounded analysis. The absence of litigation history does not mean the Regulations have not been challenged or that they are uncontroversial; it simply means the source does not provide that information.

Litigation under the Valuation of Land Act typically arises from disputes over valuation methodology, the validity of objections, and the correct application of prescribed forms. The 2024 Regulations may become the subject of future litigation if stakeholders challenge the validity of the incorporation of the Valuation Best Practice Specifications Guidelines (regulations 7 and 8) on the ground that they are not properly accessible or that the delegation of prescribing substantive content to an external guideline exceeds the regulation-making power under the Act. Another potential ground for challenge is whether the prescribed amounts in regulation 10 are arbitrary or inconsistent with the Act's purpose. However, such a challenge is speculative without source.

Practitioners should note that the Regulations do not provide a mechanism for internal review or appeal of decisions based on non-compliance with prescribed forms or information. Any challenge would have to be brought under the Act itself, likely through the Victorian Civil and Administrative Tribunal or the Supreme Court. The Regulations are procedural, so litigation would focus on whether the regulator or objector complied with them, and whether the regulation itself is valid.

The absence of litigation history is a reminder that these Regulations are untested. Early adopters should proceed with caution, ensuring strict compliance to avoid being the test case.

1. The monetary thresholds are not indexed. Regulation 10 sets fixed dollar amounts: $240,000 net annual value, $3,000,000 site value, $4,000,000 capital improved value. These thresholds determine whether an objector can access the objection pathways under sections 16(3A)(b) and 20(1)(b) of the Act. As property values rise with inflation, over the 10-year life of the Regulations more properties will exceed these thresholds, gradually expanding access. But at commencement, many properties fall below them, especially in regional areas. An objector with a property valued at $3.9 million capital improved value cannot use the section 20(1)(b) pathway, even if the valuation is grossly erroneous. The objector must rely on other provisions that may have less favourable procedures. The thresholds are arbitrary in their precise amounts but reflect a policy choice to restrict formal objection processes to higher-value properties. Practitioners should check all three thresholds - a property might qualify under one even if it falls under another.

2. The Valuation Best Practice Specifications Guidelines are not in the regulations. Regulations 7 and 8 require that valuations contain the information required by these Guidelines. The Guidelines are not reproduced in the Regulations or their schedules. A rating authority cannot simply follow the regulation text; it must locate the current version of the Guidelines, which may be published only on the Valuer-General's website or in internal documents. If an authority uses an outdated version, or misinterprets the Guidelines, the valuation may not be in the prescribed form. For a landowner challenging a valuation, it is difficult to assess compliance without access to the Guidelines. This incorporation by reference is a transparency concern. The Subordinate Legislation Act likely requires that the Guidelines be published and accessible, but the Regulations themselves do not provide a source or date.

3. The objection information requirements are exhaustive and non-waivable. Regulation 9 says the objection must contain "the information set out in Schedule 2". The word "must" is mandatory. There is no de minimis exception. If an objector provides 9 of 10 required items, the objection may still be invalid as not in the prescribed form. Particularly tricky items: for commercial/industrial land, "the details of any incentives provided by the lessor" - an objector who is the tenant may not know the full incentive package (e.g., rent-free period, fit-out contribution) if it was negotiated by the landlord with a previous tenant. Similarly, "the details of any outgoings relevant to the lease and the name of the person responsible" - if the lease is silent or ambiguous, the objector may struggle to provide this. For rural production land, soil types and topographical features with area in hectares may require professional surveying. An objector who guesses or provides approximate information risks the objection being rejected for incompleteness. The safest approach is to state that a particular item is not applicable or not available, but the regulation does not explicitly allow that. The Act may give the rating authority some discretion to accept incomplete objections, but the regulation does not.

4. The oath of secrecy may trap valuers responding to objections. Regulation 6 requires the valuer to keep secret all matters coming to their knowledge in relation to valuations, except for the purpose of carrying into effect the Act. Regulation 11 requires the valuer to provide, in a response to an objection, a description of the valuation approach including any sales or rentals relied on. Disclosing specific comparable sales data could be seen as divulging a matter that came to the valuer's knowledge in the performance of duties. The valuer must decide whether the disclosure is "for the purpose of carrying into effect the provisions of the Act" - likely it is, because the Act provides for objection responses. But if the valuer discloses more than necessary, or to a person not directly involved in the objection, the secrecy oath may be breached. A cautious valuer might provide only minimal information, potentially to the detriment of the objector. The objector has no direct way to enforce the valuer's compliance with regulation 11 beyond seeking a court order.

5. The definitions of land classifications are not in the regulations. Schedule 2 uses "residential land", "commercial or industrial land", and "rural production land" without defining them. The objector must self-assess which category applies. If the land has mixed use (e.g., a farm with a bed-and-breakfast), it is unclear which column applies or whether both are required. The Act may define these terms, but the regulations do not. An objector who chooses the wrong classification and provides information from the wrong part of Schedule 2 may have an invalid objection. This ambiguity is a trap for the unwary.

6. The regulations do not prescribe timeframes. The Regulations are silent on when the oath must be taken, when the valuer must respond to an objection, and when the rating authority must submit valuations. These timeframes are in the Act. But the Regulations create prerequisites that must be met at specific times. For example, if a valuer takes the oath after performing inspections, those inspections might be invalid. The interaction between the regulation and the Act's timing provisions requires careful cross-referencing.

For rating authorities. Ensure that all returned valuations and returns of valuations comply with regulations 7 and 8. This means the valuation must be in electronic form (data, text or images storable and transmissible electronically) and must contain the information required by the current version of the Valuation Best Practice Specifications Guidelines. Obtain the latest version of the Guidelines from the Valuer-General. Implement systems that produce valuations in the required format. Audit existing processes against the Guidelines. When engaging external valuers, include a contractual obligation to comply with these regulations and to provide the oath or affirmation to the council before commencing work. Maintain a register of valuers who have taken the oath.

For valuers. Before performing any duties under the Act, take the oath or affirmation of fidelity and secrecy as set out in Schedule 1. This must be done before you inspect land, access records, or prepare a valuation. The oath binds you for the duration of your engagement and after. When responding to an objection under section 20(2) of the Act, provide all items listed in regulation 11: the address, property reference number, details of land and improvements, a description of the valuation approach (including any sales or rentals relied on), and a response to the information in the objection. If you are uncertain whether disclosing a particular comparable sale would breach the secrecy oath, err on the side of disclosure if it is necessary to properly respond to the objection, because the objection process is a purpose of carrying into effect the Act. Document your reasoning. Provide the response in a clear, written form that the objector can understand.

For objectors. Before lodging an objection under section 16(2)(a) of the Act, carefully review the prescribed information in Schedule 2. Determine which land classification applies to your property. If you are unsure, seek legal or valuation advice; using the wrong classification may invalidate your objection. For residential land, you need: address, rating authority's land reference number, your name and whether you are owner/occupier, postal or email address, telephone contact, area of land in square metres or hectares, date of lodgement, and the specific value(s) being objected to. Also provide description of the dwelling including area, and details of any structural improvements. For commercial or industrial land, additionally provide gross area of buildings, lettable area, nature of occupancy, lease commencement date and term, actual net and/or gross rent per year, rent review details, lessor incentives, outgoings and responsible party, number of car parking spaces and rent, and details of fixed plant. For rural production land, provide soil types and topography with area for each, vegetation details with area, irrigation details including user permits and licences, dam and bore licences, fencing, pastures and water supply, leases or licences for unused roads or water frontages, main dwelling description, and any additional dwellings or improvements including fixed plant.

If any item is genuinely inapplicable (e.g., no lease incentives exist), state that rather than omit. If information is not reasonably available (e.g., a tenant cannot obtain the landlord's outgoings history), explain why, but be aware that the regulation does not explicitly allow for incomplete information. Consider engaging a professional valuer or agent to help compile the data. Ensure the objection is lodged within the statutory timeframe (found in the Act, not the regulations). Retain copies of all documents provided. Check whether your property's values exceed any of the thresholds in regulation 10; if not, you may need to use a different objection pathway under the Act. The prescribed amounts only apply to sections 16(3A)(b) and 20(1)(b); other objection provisions may still be available.

For all parties. Keep a copy of the current version of the Regulations and the relevant parts of the Valuation of Land Act. Monitor the Victorian legislation website for any future amendments to these Regulations or to the Valuation Best Practice Specifications Guidelines. If the Guidelines change, update compliance procedures accordingly. Be aware that the Regulations sunset on 17 September 2034; in the years leading up to that date, a new regulation-making process will occur, and current practices may need to change.