Today, February 10, the National Assembly discussed at first reading the legislative initiative on making amendments and addenda to the Law “On Valuation Activities” and an addendum to the Law “On State Duty”, presented by Suren Tovmasyan, Head of the Cadastre Committee.

The adoption of the draft laws is aimed at clarifying the legal status of persons engaged in activities in the sector, establishing criteria for their liability, and ensuring continuous professional training and improvement of their activities.

Tovmasyan noted that the initiative introduces a classification of qualified valuers into three levels: junior, senior, and chief. The draft clearly defines the types of valuation activities that valuers at each level will be authorized to perform.

It is envisaged that all valuation activity qualification certificates currently in force will be considered qualification certificates for first-level valuers.

A person who has obtained a valuer qualification certificate will be awarded 20 points for carrying out valuation activities during the first year following the date of issuance of the qualification certificate.

For each subsequent year, the valuer will be awarded 20 points. Points remaining from the previous year will not be carried over to the following year.