34AB. Registration of valuers.
(1) The [Chief Commissioner or Director General] shall maintain a register to be called the Register of Valuers in which shall be entered the names and addresses of persons registered under sub-section (2) as valuers.
(2) Any person who possesses the qualifications prescribed in this behalf may apply to the [Chief Commissioner or Director General] in the prescribed form for being registered as a valuer under this section:
Provided that different qualifications may be prescribed for valuers of different classes of assets.
(3) Every application under sub-section (2) shall be verified in the prescribed manner, shall be accompanied by such fees as may be prescribed and shall contain a declaration to the effect that the applicant will—
| (i) | make an impartial and true valuation of any asset which he may be required to value; | |
| (ii) | furnish a report of such valuation in the prescribed form; | |
| (iii) | charge fees at a rate not exceeding the rate or rates prescribed in this behalf; | |
| (iv) | not undertake valuation of any asset in which he has a direct or indirect interest. |
(4) The report of valuation of any asset by a registered valuer shall be in the prescribed form and be verified in the prescribed manner.
