The board of valuers, appraisers and estate agents Malaysia
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CIRCULAR 3/2006

 

Date : 12 Jun 2006

TO : ALL REGISTERED VALUERS AND PROBATIONARY VALUERS

Dear Sir/Madam

Assessors In Land Acquisition Cases Conflict of Interest

The Board understands from the Cours that some of the registred valuers who have been called to sit in as assessors in Land Acquisition cases have declined to serve on the premise that they are busy or have to attend to others matters.

Kindly be informed that it is a mandatory requirement for you to serve as an assessor in the Court whenever called upon and it is incumbent on you to cancel all other appoinments that you may have in order to fullfill you legal obligations. You are further informed that should you fail to attend the hearing without valid reasons, action will be taken against you according to the Valuers, Appraisers and Estate Agents Act 1981. Such being the case, registered valuers are required to make themselves avail whenever called upon to sit as an assessor.

It has also being observed that some registred valuers have failed to rescue themselves from hearing Land Acquisition cases where their firms are involved i.e. specifically, where the registered valuer or his partner may have prepared the valuation report previously or were responsible in negotiating for compensation for the client in the case concerned. In such instances, it is prudent and ethical for the registered valuers concerned to disclose his interest and recuse himself from hearing the case.

Yours faithfully

LEMBAGA PENILAI, PENTAKSIR DAN EJEN HARTATANAH MALAYSIA
R.MAHALETCHUMI

Registrar

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