Conditions of Recognition

at all times continue to satisfy the eligibility requirements specified under rule 12;

maintain a register of members who are registered valuers, which shall be publicly available;

admits only individuals who possess the educational qualifications and experience requirements, in accordance with rule 4 and as specified in its recognition certificate, as members;

make such reports to the authority as may be required by it;

comply with any directions, including with regard to course to be conducted by valuation organisation under clause (a) of sub-rule (2) of rule 12, issued by the authority;

be converted or registered as company under section 8 of the Act, with governance structure and bye laws specified in Annexure-III, within a period of two years one year from the date of commencement of these rules if it is an organisation referred to in proviso to sub-rule (1) of rule 12;

shall have the governance structure and incorporate in its bye laws the requirements specified in Annexure-III within one year of commencement of these rules if it is an organisation referred to in clause (i) of sub-rule (1) of rule 12 and existing on the date of commencement of these rules;