The Regulation rests on several legal and regulatory concepts, expressed as statutory prescriptions or definitions that structure compliance.

Prescribed institutes (sec.2)

• For the Act provisions cited, the Regulation prescribes four institutes whose certificates the board must accept: Australian Property Institute, Property Institute of New Zealand, Royal Institution of Chartered Surveyors, Singapore Institute of Surveyors and Valuers. The prescription is limited to the Act cross-references given (Act ss 30 and 36B).

Continuing Professional Development, CPD (secs.3-4)

• CPD period: a defined annual window from 1 May to the next 30 April (sec.3(2)).
• Minimum hours: general registered valuers must complete at least 10 hours per CPD period (sec.3(1)); specialist retail valuers must complete at least 5 hours per CPD period (sec.4(1)).
• CPD activity: a defined list of qualifying activities for both general and retail specialist CPD (attending seminars/conferences/workshops; preparing/presenting papers; writing/publishing articles; formal education; informal education by reading professional journals) (secs.3(2), 4(2)).
• CPD notice: the board may give a written notice before a CPD period that states minimum hours and particular CPD activities that the valuer must undertake during the CPD period, but such a notice cannot require more than the total hours cap (10 for general; 5 for retail) (secs.3(2), 4(2)).

Code of professional conduct (sec.5; schedule 1)

• Composition: schedule 1 provisions plus any board-approved documents (sec.5(1)).
• Priority rule: where schedule 1 conflicts with an approved document, schedule 1 prevails (sec.5(2)).
• Board obligations: publication on the board’s website; keeping copies available at the board’s office for inspection by the public; and written notice to each registered valuer stating the approval, version identifier and the day of effect (sec.5(3)). Different minimum notice lead times apply: at least 5 days for API-published documents, 30 days for other documents (sec.5(4)).

Transitional preservation of API rules (sec.8)

• Until the board approves another document for inclusion in the code and that document takes effect, the API Rules of Professional Conduct dated 31 March 2024 continue to have effect as part of the code (sec.8(2)). The transitional provision also keeps former s.5(2) operative in a way that treats references to previously mentioned documents as references to the API rules (sec.8(3)).

Statutory duties and prohibitions in schedule 1

• Duty to client: act in client’s interests and avoid conduct that benefits the valuer/others without benefiting or that disadvantages the client (sch.1-sec.1).
• Confidentiality: do not disclose or use valuation information except as expressly permitted (consent, lawful process, law, or public availability) (sch.1-sec.2).
• Conflict of interest: if the valuer has a direct or indirect interest in the land or improvements, the valuer must disclose and obtain written client approval before valuing (sch.1-sec.3). The definition of improvements ties to the Land Valuation Act 2010 ss 23 and 24 (sch.1-sec.3(2)).
• Supervision/experience: valuers must not undertake valuations outside their experience other than under supervision; commercial property valuations require experience or supervision by an experienced registered valuer (sch.1-sec.6).
• Report requirements: each written valuation report must include specified identifiers and dates and must be signed and dated (sch.1-sec.7).
• Advertising and professional statements: prohibitions on misleading, reputation-damaging or malicious statements about others (sch.1-secs.8-9).
• Fees: prohibition on outcome-based fees and fees that would prejudice independent advice; obligation to disclose how a fee is calculated on request; prohibitions on contingency fees in specified contexts (valuation for compensation or for rates) (sch.1-secs.10-12).

Repeal (sec.7) and fees (sec.6)

• The Regulation repeals the 2013 Regulation (sec.7).
• Fees payable under the Act are stated in schedule 2 of the Regulation (sec.6); the schedule is referenced as the location for fee amounts.

Principal legal relationship

• The Regulation operates as subordinate legislation to the Valuers Registration Act. It prescribes details that implement or elaborate Act requirements by naming institutes, fixing CPD minima and creating a statutory code of conduct made up of schedule 1 and board-approved documents. The Regulation references specific Act sections as its statutory anchors (secs.2-5 reference Act ss 30, 36B, 42FA, 66(2), respectively).

Primary regulated persons

• Registered valuers: the Regulation directly governs persons registered under the Valuers Registration Act by setting CPD requirements, mandatory conduct standards, report contents, conflict-of-interest rules, advertising limits, fee restrictions and experience/supervision requirements (sch.1; secs.3-4; sec.5). Registered valuers are the addressees of board notices and must receive written notice if the board approves documents for inclusion in the code (sec.5(3)(c)).

Secondary affected parties

• Clients of registered valuers: schedule 1 creates statutory protections for clients, including duties that valuers must act in the client’s interests, preserve confidentiality, disclose interests in land and obtain written client approval where an interest exists (sch.1-secs.1-3). Clients also have a right to request the valuer’s certificate of registration for inspection (sch.1-sec.4).
• Employers, industry bodies and professional organisations: these bodies appear in the list of entities that may conduct acceptable CPD activities (secs.3(2), 4(2)). The Regulation thereby recognises activities run by employers and industry bodies as qualifying CPD provided they meet the listed activity types.
• The board administering registration: the board receives explicit powers and obligations under the Regulation. It may issue CPD notices prescribing required CPD activities for CPD periods (secs.3(1), 4(1)), approve documents for inclusion in the code and must publish them, make them inspectable and notify registrants (sec.5).
• Professional institutes: the Australian Property Institute and others named in sec.2 receive special status for issuing certificates of competence and CPD compliance for the purposes of the Act provisions cited. The API also has its Rules preserved in transition (sec.8).
• Recipients of valuation reports: second‑order effects arise for parties relying on valuations (lenders, courts, government agencies assessing compensation or rates), because the Regulation dictates report contents and limits on certain fee structures where valuations may be used to determine compensation or rates (sch.1-secs.7, 10-12).

Who pays and who decides

• Who pays: the immediate compliance costs fall on registered valuers (time spent on CPD; administrative burden of recordkeeping and providing notice of fees; potential need for supervision or refusal to accept instructions lacking appropriate experience; potential need to adjust advertising and fee models). Clients may bear higher fees if valuers transfer compliance costs; the Regulation places some transparency obligations on valuers to explain fee calculation if requested (sch.1-sec.10(2)).
• Who decides: the board decides by issuing CPD notices, approving documents for the code, and publishing notices required by sec.5. Professional institutes prescribed in sec.2 decide on competence and CPD certification within the scope provided, and the API’s Rules remain in force in the interim until the board replaces them (sec.8).

Geographic and sectoral scope

• The instrument is expressed to interact with land valuation functions (note references to Land Valuation Act 2010 for definitions of improvements in sch.1-sec.3). The specialist retail valuer CPD provision specifically targets valuers who undertake retail rental valuations (sec.4). The named institutes include international bodies (RICS and a New Zealand institute), which the Regulation treats as acceptable certifiers for the Act-linked purposes (sec.2).

Timing and transitional effects

• Existing API Rules continue to be part of the code until the board approves a replacing document and that document takes effect; this preserves continuity for practitioners who currently follow the API rules (sec.8).

Statutory duty-to-client provisions (sch.1-pt.1)

• Act in the client’s interests: a registered valuer must act in the client’s interests when making a valuation for a client and must not do anything that benefits the valuer or another person without benefiting the client or that disadvantages the client (sch.1-sec.1).
• Confidentiality: valuation information is protected; valuers must not disclose or use such information except with written client consent, to comply with lawful process (court or tribunal production/giving evidence), where otherwise required by law, or where the information is already publicly available at the time of disclosure (sch.1-sec.2).
• Conflict disclosure and written client consent: if a valuer has a direct or indirect interest in land (including improvements as defined by reference to the Land Valuation Act 2010 ss 23 and 24), the valuer must disclose the nature of that interest and obtain written client approval before making the valuation (sch.1-sec.3).
• Production of certificate: on request by a client, a registered valuer must produce the valuer’s certificate of registration for inspection (sch.1-sec.4).

Professional responsibility and competency (sch.1-pt.2)

• No predetermined result: a valuer must refuse to make a valuation if the instruction requires a predetermined result (sch.1-sec.5).
• Experience requirements: valuers must not make valuations for which they do not have appropriate experience unless under supervision of a registered valuer who has appropriate experience; commercial property valuations require experience or supervision by an experienced registered valuer (sch.1-sec.6).
• Report content and authentication: written valuation reports must include the valuer’s relevant qualifications, registration number, dates of inspections, the valuation date and must be signed and dated by the valuer (sch.1-sec.7).

Professional conduct in communications (sch.1-pt.2)

• Advertising: prohibitions on advertising that creates false expectations, is misleading or deceptive, or is likely to injure another valuer’s professional reputation or damage the reputation of the profession (sch.1-sec.8).
• Statements about others: a registered valuer must not make false, malicious, misleading or bad-faith statements about another valuer’s reputation or the profession intended to injure or damage (sch.1-sec.9).

Fees and remuneration (sch.1-pt.3)

• Prohibition on outcome-based fees: valuers must not charge a fee based on a stated outcome or a fee that might reasonably be expected to prejudice independent advice; valuers must disclose how a fee is calculated if asked by a client (sch.1-sec.10).
• No contingency fees for compensation valuations: where a valuation may be used to decide compensation, fee payment cannot be contingent on the amount of compensation nor may a fee be fixed as a percentage of compensation (sch.1-sec.11).
• No contingency fees for rates valuations: where a valuation is used to decide rates or other charges to be levied on land, the valuer must not make payment of the fee contingent on the result of any proceeding about the valuation’s correctness (sch.1-sec.12).

CPD and administrative rights and obligations (secs.3-4; sec.5)

• CPD minima and types: registrants must complete the prescribed hours of CPD per CPD period, comprising specified activities; the board can issue notices specifying particular activities and minimum hours but cannot require more than the statutory cap (secs.3-4).
• Code composition and changes: register holders have the right to be notified in writing if the board approves documents for inclusion in the code and to inspect those documents at the board’s office and on the board’s website; the board must give each registered valuer a written notice specifying the version and effective day (sec.5(3)).
• Transitional right: until an approved document takes effect, API rules remain part of the code and are available on the API website (sec.8).

Scope and limits of entitlement

• The schedule 1 duties create enforceable statutory obligations for registered valuers; however, the Regulation itself does not specify the sanctions or enforcement processes in the text provided. The duties are precise in many cases (e.g. reporting content, prohibition on contingency fees in certain contexts) and contain defined exceptions (e.g. confidentiality exceptions, CPD notice cap).

What the Regulation states

• The Regulation, as reproduced, does not specify penalties, monetary fines or particular enforcement procedures within its own text. It prescribes duties, prohibitions and procedures (for example, for CPD and code publication) but does not include separate penalty clauses or specify disciplinary processes in this instrument.

Where enforcement authority lies (as indicated in the instrument)

• The Regulation is framed to operate under the Valuers Registration Act; multiple provisions reference the Act for authorising board actions or serving as statutory hooks (see secs.2, 3, 4 and 5 which explicitly cite Act ss 30, 36B, 42FA and 66(2)). This indicates that enforcement, including any sanctions for breaches of the duties prescribed here, will be found in the Act and associated enforcement provisions rather than in the Regulation text itself.

Implications for practitioners and clients

• Because the Regulation imposes statutory duties and prohibitions (sch.1), failure to comply may expose a registered valuer to regulatory action under the Valuers Registration Act. The Regulation’s silence on specific penalties means practitioners must consult the Act for precise sanctioning mechanisms, such as suspension, cancellation, pecuniary penalties or other disciplinary outcomes.
• The Regulation creates clear obligations that can be relied on by clients and by administrative decision-makers; potential complainants can cite schedule 1 provisions when alleging professional misconduct. However, the Regulation does not set out the complaint, investigation or hearing processes in the text reproduced here.

Administrative enforcement mechanisms implicit in the text

• Board actions: the board is empowered to issue CPD notices and to approve documents into the code. Those powers allow the board to set compliance standards and then monitor adherence by registrants. The obligations to publish documents and notify registrants (sec.5) create a public record against which compliance can be measured.
• Public visibility and recordkeeping: the obligation to make approved documents available on the board’s website and at the office (sec.5(3)(a)-(b)) increases transparency and facilitates external monitoring by clients, competitors or regulators.

Practical compliance consequence

• In practice, because the Regulation prescribes mandatory duties, the risk to valuers is regulatory enforcement under the Act. Absent the Act’s text here, lawyers and compliance teams must check the Valuers Registration Act and any board procedural rules to confirm available sanctions, appeal rights and the board’s investigative powers. The Regulation’s prescriptions are written to be enforceable by reference to the Act’s machinery.

Direct statutory cross-references

• Valuers Registration Act: the Regulation explicitly operates under and references several sections of the Act (secs.2 refers to Act ss 30 and 36B; sec.3 to Act s 36B; sec.4 to Act s 42FA; sec.5 to Act s 66(2)). This indicates the Regulation supplements and gives operational detail to the Act’s provisions on registration, CPD and the code of conduct.
• Land Valuation Act 2010: the definition of "improvements" in sch.1-sec.3 refers to site and non-site improvements under the Land Valuation Act 2010 ss 23 and 24. This imports statutory definitions from that Act into the conflict-of-interest rule for valuers performing valuations of land or improvements.

Relationship with professional rules and external standards

• Australian Property Institute Rules: the Regulation preserves the API Rules of Professional Conduct, dated 31 March 2024, as part of the code until the board approves a different document and that document takes effect (sec.8). The API rules are available on the API’s website and are treated as an element of the statutory code during the transitional period.
• Prescribed external institutes: by prescribing specific external institutes (sec.2) for certificates of competence and CPD compliance for Act sections, the Regulation recognises the role of those professional bodies in credentialing,this provides a statutory bridge between the board’s registration functions and external professional qualifications.

Priority rules and potential conflicts

• Schedule 1 prevails over any board-approved document in the event of inconsistency (sec.5(2)). Thus, if an approved document (including, hypothetically, API material) conflicted with schedule 1, the schedule would control. The transitional provision in sec.8, however, preserves the API Rules as part of the code until a board-approved document takes effect; once the board approves and a document takes effect, schedule 1 will prevail over any inconsistent content in the approved document (secs.5(1)-(2), 8(1)-(2)).

Administrative interface and notice periods

• The board must publish approved documents on its website, keep copies available for inspection and give each registered valuer a written notice specifying version information and the date the document takes effect (sec.5(3)). The Regulation prescribes shorter minimum lead time for API‑published documents than for other documents (at least five days versus at least thirty days) (sec.5(4)). This differential treatment is internal to the Regulation and affects the timeline for when an approved document will be binding on registrants.

Fee interaction

• Fees payable under the Act are stated in schedule 2 of the Regulation (sec.6). While the schedule is not reproduced here, the Regulation thus interacts with the broader fee regime the Act contemplates by locating fee amounts or scales in the Regulation’s schedule.

Limits on contractual freedom and market effects

• The fee prohibitions in schedule 1 restrict contractual remuneration models for valuations used for compensation, rates or generally where they would prejudice independence (sch.1-secs.10-12). Those provisions interact with private contractual arrangements between valuers and clients and will constrain certain contingent-fee structures that might otherwise be available under contract law, subject to any enforcement under the Act.

Evidence and court procedures

• The confidentiality provisions preserve exceptions for disclosure in compliance with lawful process requiring production of documents to or evidence before a court or tribunal (sch.1-sec.2). This recognises and preserves the interaction between disclosure obligations in the regulatory code and court subpoena/compellability rules.

Transitional and repeals

• The Regulation repeals an earlier subordinate instrument (Valuers Registration Regulation 2013 No. 167) (sec.7). The transitional provision (sec.8) ensures continuity of the API Rules while the board proceeds to approve documents, thereby smoothing the legal interface between the old subordinate instrument’s content and the new statutory code.

What the Regulation does not change

• The Regulation does not purport to amend the Valuers Registration Act itself. It supplies procedural and substantive detail referenced in the Act. Enforcement and sanction regimes, appeal rights, and other institutional powers remain in the Act unless otherwise modified by separate legislation.

Textual amendment markers present in the instrument

• The Regulation contains internal amendment notations that indicate recent changes to provisions as follows:
  • sec.5 bears the note "s 5 amd 2025 SL No. 33 s 3", indicating that section 5 was amended by Statutory Instrument No. 33 of 2025, section 3.
  • sec.8 bears the note "s 8 ins 2025 SL No. 33 s 6", indicating that section 8 was inserted by the same instrument, Statutory Instrument No. 33 of 2025, section 6.

Repeal of previous subordinate legislation

• The Regulation expressly repeals the Valuers Registration Regulation 2013, No. 167 (sec.7). The 2013 Regulation therefore ceased to be operative from the date of repeal effected by this instrument.

Transitional insertion preserving existing professional rules

• Section 8 was inserted to provide a transitional bridge that preserves the API Rules of Professional Conduct (dated 31 March 2024) as part of the code of professional conduct until the board approves a different document and that document takes effect (sec.8(1)-(3)). The insertional note confirms sec.8 is a post-commencement addition (s 8 ins 2025 SL No. 33 s 6).

Temporal effect of approved documents

• Section 5, as amended, imposes differentiated minimum notice requirements before an approved document takes effect as part of the code: for API-published documents the day stated in the notice must be at least five days after notice is given, while for other approved documents it must be at least thirty days after notice (sec.5(4)). The statutory amendment record indicates that the board’s procedural obligations regarding publication and notice were recently revised.

What the text does not disclose about amendment provenance

• The Regulation includes amendment markers but does not include the amending instrument(s) themselves beyond the shorthand citation. To trace the policy rationale or parliamentary debates that produced the amendments, one must consult the legislative instrument register or the Statutory Instrument No. 33 of 2025 explanatory materials. The Regulation provides the legal effect of those amendments but not the extrinsic materials.

Implications for historical obligations

• By preserving the API Rules during the transition and by explicitly repealing the 2013 instrument, the Regulation constrains potential gaps in professional conduct obligations between repeal and the board’s next steps. The schedule 1 code and transitional sec.8 together form the immediate governance framework post-repeal.

No litigation recorded in the instrument

• The Regulation text supplied contains no references to case law, judicial decisions, or examples of litigation arising under the Regulation or schedule 1. There are no named cases, appeals, or judicial interpretations cited in the text provided.

Practical consequence of absence of judicial history

• Where the statutory duties are newly codified or amended, absence of case law means interpretation risk for registrants and clients. Practical questions likely to arise in litigation or adjudication include the interpretation of terms such as "appropriate experience" (sch.1-sec.6), "likely to create false expectations" (sch.1-sec.8), "fee based on a stated outcome" (sch.1-sec.10), and the scope of the board’s discretion in issuing CPD notices (secs.3-4). Currently, practitioners must rely on the plain text of the Regulation and any board guidance until judicial interpretation emerges.

How disputes will be resolved

• Given that the Regulation sits under the Valuers Registration Act, disputes over alleged breaches of Regulation obligations would ordinarily be resolved through the enforcement and disciplinary framework provided by the Act, or through civil proceedings where statutory duties give rise to private rights or liabilities. The Regulation itself does not describe dispute resolution routes or remedies.

Advice for practitioners anticipating litigation

• In the absence of settled litigation, conservative compliance is the risk-minimising strategy: adhere to the textually expressed duties and prohibitions, rely on the statutory definitions and exceptions (e.g. confidentiality exceptions), and seek clarifying guidance from the board where the text leaves room for interpretive uncertainty (for example on what constitutes "appropriate experience" or a "fee based on a stated outcome").

Priority of schedule 1 over approved documents

• The Regulation makes schedule 1 the baseline statutory code and expressly provides that schedule 1 prevails to the extent of any inconsistency with board-approved documents included in the code (sec.5(2)). Practitioners who follow external professional documents that the board later approves should check for any inconsistencies with schedule 1 because those schedule provisions override.

Differential notice periods for approved documents

• The board must give written notice to each registered valuer when it approves a document for inclusion in the code and must state the effective day. For documents published by the Australian Property Institute the minimum lead time is five days, while for any other document the minimum lead time is thirty days (sec.5(3)-(4)). A shorter lead time for API material may accelerate binding changes for API-aligned practitioners; conversely, the longer lead time for other documents gives potential adjustment time.

CPD notice cap and specificity

• The board may issue a CPD notice before a CPD period specifying the minimum number of hours to be spent on one or more stated CPD activities, but the Regulation caps the total number of hours the board can require at 10 for general registrants and at 5 for specialist retail valuers (secs.3(1), 4(1) and their definitions of CPD notice). The board cannot use CPD notices to require registrants to exceed the statutory cap. Practitioners should watch for CPD notices that attempt to impose higher totals, which the Regulation prohibits.

Timing of the CPD period

• The CPD period is fixed from 1 May to the next 30 April (sec.3(2)). Any CPD planning, employer-provided training or course scheduling must align with that window. Practitioners might mistakenly assume a calendar-year CPD period; non-alignment with the statutory period could create inadvertent shortfalls.

Ambiguity in "appropriate experience"

• The Regulation requires a valuer not to undertake valuations without appropriate experience unless supervised (sch.1-sec.6) and requires experience (or supervised valuation) for commercial property valuations specifically. The statutory text does not define "appropriate experience" in quantitative terms, so boards, employers and registrants must interpret it. Risk-averse practice suggests documented evidence of relevant past valuations and formal supervision arrangements where experience is uncertain.

Fee language and contract drafting risk

• "A fee based on a stated outcome" and "a fee that might reasonably be expected to prejudice the valuer’s advice" (sch.1-sec.10(1)) are potentially broad. Firms must avoid remuneration terms that could be construed as outcome-oriented, such as performance bonuses tied to specific valuation thresholds, or undisclosed arrangements with third parties that could be argued to prejudice independence. Similarly, contingency or percentage-of-compensation fees are explicitly prohibited in particular contexts (sch.1-secs.11-12). Contract drafters should revise standard engagement letters to comply and retain transparent fee-calculation disclosures to clients.

Confidentiality exceptions and handling subpoenas

• Confidentiality is strong but includes exceptions for written client consent, lawful processes requiring production of documents or evidence, legal requirement and public availability (sch.1-sec.2(3)). Valuers must have procedures to handle third-party or court requests and to document client consent. Disclosure without satisfying an exception risks breach of the confidentiality duty.

Preservation of API Rules as part of the code

• The API Rules continue as part of the code until the board approves and brings into effect another document (sec.8). Practitioners who previously relied on other sources for professional conduct must verify whether API provisions apply to their cases during the transition.

Production of certificate on client request

• Registered valuers must produce their certificate of registration on client request for inspection (sch.1-sec.4). Firms should have easy access to certificates and processes to provide prompt inspection to avoid complaints.

No penalties in the Regulation text

• The Regulation does not specify penalties. Practitioners should not assume the absence of penalty clauses equals absence of enforcement; the Act contains enforcement mechanisms. Consult the Act for penalty regimes and appeal rights.

Advertising and reputational risks

• Advertising rules prohibit conduct that is likely to injure another valuer’s reputation or that is otherwise misleading; these are fact‑sensitive provisions that expose practitioners to complaints from competitors or clients. Marketing collateral should be vetted against the Regulation’s language in sch.1-sec.8 and sch.1-sec.9.

Interplay with employer-provided CPD

• CPD activities include employer-conducted events (secs.3(2), 4(2)). Employers may count internal training towards CPD, but registrants must ensure those activities map clearly to the defined CPD activity list, and that any board CPD notice requirements are met if a CPD notice specifies particular activities.

Practical checklist for registered valuers and firms

1. CPD compliance and recordkeeping (secs.3-4)

   • Track CPD periods from 1 May to 30 April.
   • Ensure general registered valuers complete at least 10 hours of qualifying CPD activities each CPD period; specialist retail valuers must complete at least 5 hours.
   • Acceptable CPD activities: attending seminars, conferences, workshops, field days or addresses about property matters (or retail rental valuation for retail specialists) conducted by the board, professional organisations, industry bodies or employers; preparing and presenting papers; writing and publishing articles; undertaking formal education; undertaking informal education by perusing appropriate journals (secs.3(2), 4(2)).
   • Monitor board communications for CPD notices issued before the start of a CPD period. If a CPD notice is given, perform and document the CPD activities specified. The board cannot require more than the statutory cap in total (secs.3(1), 4(1)).
   • Keep contemporaneous CPD records that identify the activity, organiser, hours, date and how the activity meets the CPD definition in the Regulation.

2. Professional conduct and conflicts (sch.1-pt.1 and pt.2)

   • Include a written conflicts policy reflecting sch.1-sec.3: if you or your firm have a direct or indirect interest in land, disclose the nature of the interest to the client and obtain written approval before undertaking the valuation. Link internal definitions of "improvements" to the Land Valuation Act 2010 ss 23 and 24 as the Regulation does (sch.1-sec.3(2)).
   • Refuse instructions that require a predetermined valuation result (sch.1-sec.5).
   • Ensure those undertaking commercial property valuations have documented expertise or are supervised by a registered valuer with the required experience (sch.1-sec.6). Document supervisory arrangements and the supervising valuer’s qualifications and prior experience.

3. Valuation reports (sch.1-sec.7)

   • Standardise report templates to include the valuer’s relevant qualifications, registration number, the date of each inspection, the date the valuation was made and to require the valuer’s signature and date on each report. Maintain version control and archival copies.

4. Fees and engagement letters (sch.1-pt.3)

   • Remove or avoid fee structures that are outcome-based or contingent where prohibited. Specifically:
     • Do not charge fees based on a stated outcome or on terms that might reasonably prejudice independence (sch.1-sec.10).
     • Do not accept contingency or percentage-of-compensation fees where the valuation may be used to decide compensation (sch.1-sec.11).
     • Do not allow fees contingent on litigation outcomes related to valuations used for rates or charges (sch.1-sec.12).
   • Provide clients with an explanation of how fees are calculated if requested (sch.1-sec.10(2)). Include clear, written fee-calculation clauses in engagement letters that comply with these prohibitions.

5. Confidentiality and disclosure handling (sch.1-sec.2)

   • Implement procedures to secure valuation information and to obtain and record written client consents where disclosure is intended.
   • Create a process for legal requests and subpoenas, ensuring disclosures are made only under lawful process or other exceptions enumerated in sch.1-sec.2(3). Retain records of any disclosures and the legal basis for them.

6. Advertising and external communications (sch.1-secs.8-9)

   • Review marketing materials and public statements to ensure they do not create false expectations or mislead, and do not make false or malicious statements about other valuers. Implement internal review of public statements and advertising copy.

7. Certificates, registration and board communications (sec.5; sch.1-sec.4)

   • Keep the registration certificate accessible for inspection when requested by a client (sch.1-sec.4).
   • Monitor the board’s website and email or postal communications for approved documents added to the code. The board must publish approved documents and notify registrants in writing with version information and effective date (sec.5(3)). For API-published documents expect at least five days’ notice; for other documents expect at least thirty days’ notice before they take effect (sec.5(4)).
   • Preserve awareness that the API Rules remain part of the code until the board replaces them (sec.8). Firms that rely on API guidance should continue to follow it until notified otherwise.

8. Prescribed institute certificates (sec.2)

   • Where an Act provision requires a certificate of competence or CPD compliance from a prescribed institute for registration or other purposes, obtain certification from one of the four named institutes if applicable: Australian Property Institute, Property Institute of New Zealand, Royal Institution of Chartered Surveyors, Singapore Institute of Surveyors and Valuers (sec.2). Keep records of such certificates to support registration and compliance.

9. Internal training and employer CPD recognition

   • Where employers provide seminars or workshops, document the content and attendance so staff can count such employer-provided activities as CPD under the Regulation’s definitions (secs.3(2), 4(2)). Ensure internal sessions meet the content expectations of the Regulation.

10. Governance, audit and risk management

    • Incorporate the Regulation obligations into compliance manuals and professional indemnity risk assessments. Conduct periodic internal audits of compliance with schedule 1 obligations, CPD records and engagement letter conformity.
    • If there is doubt about whether an activity qualifies as CPD, whether a fee model complies, or whether a particular instruction requires refusal under the "predetermined result" prohibition, seek written guidance from the board or obtain legal advice. Maintain written evidence of any such advice.

Documentation and evidence preservation

• Keep contemporaneous records for CPD, supervisory arrangements, client consents and disclosures, fee disclosures to clients, registration certificate production, and board notices and approved documents. These records will be material if a complaint or regulatory inquiry arises under the Act’s enforcement machinery.

Final step

• Consult the Valuers Registration Act for enforcement, appeal and complaint mechanisms and check schedule 2 of the Regulation for the exact fees payable. Where the Regulation is silent (for example on sanctions), the Act will contain the governing procedural and remedial provisions.