Uzbekistan adopts measures to further develop market of appraisal services
04/06/2018 15:31
Uzbekistan adopts measures to further develop market of appraisal services
04/06/2018 15:31
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution on measures to further develop the appraisal services market on 1 June 2018.
According to the document, the President abolished the licensing of appraisal activity and the requirements to the minimum amount of the authorized capital of appraisal organizations.
The validity period of previously issued licenses of appraisal organizations ceases on 1 January 2019, the document stressed.
The resolution said that the Accreditation Center under the National Project Management Agency (NAPU) will accredit evaluation organizations.
The Scientific and Educational Center for Corporate Governance received the functions of the State Committee on Competition for issuing an appraisal qualification certificate. The NAPU will approve property evaluation standards.
Uzbek President also set the minimal size of the insurance, within which the insurer undertakes to pay the insurance compensation in the event of an insured event during the validity period of the liability insurance contract of the appraisal valuation organization.
From now on, no less than 51% of the authorized capital (statutory fund) of the appraisal organization should belong to one or more staff appraisers of this appraisal organization.
Starting from 1 January, the head of the appraisal organization can only be an appraiser of the first or highest category.
According to the document, the appraiser cannot be involved by the appraisal organization to carry out appraisal work on the basis of a civil law contract if he or she works for another appraisal organization.
It should be noted that today there are more than 200 appraisal organizations in the market of appraisal services in Uzbekistan, employing about 1000 appraisers with qualification certificates.
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