Registration of valuers.

34AB.   (1) The ³²[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 prescribed³³ in this behalf may apply to the ³⁴[Chief Commission­er or Director General] in the prescribed form³⁵ for  being registered as a valuer under this section:

Provided  that different qualifications may be prescribed for valuers of different classes of assets.

³⁶(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.

³⁷(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.