Rule prpravay 10. 12, 13. 14, 15. 16. 17. 18. VALUERS, APPRAISERS AND ESTATE AGENTS: RULES 1986 ARRANGEMENT OF RUL Part I PRELIMINARY Citation and commencement. Interpretation. Part I ADMINISTRATION Meetings of the Board, Notice of meetings. Votes. Proxies not admitted Minutes. Committees. Registrar. Secretaries. Bank account. Cheques. Accounts. Expenses of the Board. Audit, Financial year. Part IIL REGISTRATION Forms of application Submission or delivery of application to Board and decision thereon, 41Rule 19. 20. 20a. 208. 2i. 22. 23. 24, 25a. 258. 5c. 25p. 25. 25, 256. 25H. 251 251. 25x. 25t. 25m. 26. 21. 28. 28a. Applicant to be notified. Registration fee and fee for authority to pructise and failure to pay fee. Registration of probationary valuers and probationary estate agents. Renewal of registration of probationary valuers and probationary estate agents, Authority to practice. Special authority to practice valuation. Application for renewal. Duplicate authority to practise. ‘Application for reinstatement. Cessation of practise. ‘Application for registration. Submission of application to Board. Consideration of application. Notification of Board's decision. Registration fee. Authority to practise. Withdrawal of authority to practise. Renewal of authority to practise. Duplicate authority to practise. Name of firm. Change of name or address. Cessation of firm. Part IV REGISTERS Maintenance of Registers. Inspection of Registers. Directories. Amendment of Registers. 42 seesRule 29. 30. 31. 32. 33. 33a. 34. 35. 36. af 38. 39, 40. 41. 42. 43. 45. 46. 47. 48. 49. 50. PaRT V EXAMINATIONS Conduct of examinations. Dates and centres of examinations. Applications. Eligibility. Valuer’s examinations. Estate agent’s examinations. Syllabi. Examiners, supervisors and invigilators. Passing mark. Credits, Results. Appeals. Fees. Diploma. Examination committee. ParT VI EXEMPTIONS AND PRACTICAL EXPERIENCE Exemptions. Examinations of other institutions. Practical experience. Documentary evidence of practical training required. General practice surveyors provisionally registered under Registra- tion of Surveyors Act 1967. Part VII SCALE OF FEES Scale of fees. Part VIL CLIENT’S ACCOUNTS Client's accounts. Payment into client's accounts. 43Rule 51, 52, 53. 54, 55, 56. 37. 58. 59. 60. 61. 62. 63. 65. 66. 67. 68. 69. 70. n. 72. B. 74. ‘Ta. 6. 7. Maintaining client's accounts Payment of money other than client's money into client's account for bidden. Drawing from client's accounts. Exceptions. Transfer from one client's account to another. Interest on client's account. Insurance cover for client's money. Books and records. Enforcement. Production of books to the Board. Requirements to be made under the hand of the President. Part IX CODE OF CONDUCT AND ETHICS (REGISTERED VALUERS AND APPRAISERS) Service. Conduct of registered Valuer or Appraiser. Registered valuer or appraiser acting as estate agent, Personal interest to be disclosed. Professional fees. Fee contingent on result. Payment of commission. Receipt of payment from more than one source. Participation of others in profits. Professional work by registered valuer or appraiser in employment. Criticisms or comments on fellow registered valuers or appraisers. Reference to Board of erring registered valuers or appraisers. Accuracy of statements. Valuation reports. Conduct in proceedings before judicial bodies. Use of registered valuer's or appraiser's name. 4478. 79. 80. 81. 82. K Rule 83. 84. 85. 86. 87. 88. 89, 90. 91. 92. 93. 94. 95: 96. 97. 98. 100. 101. 102. 103. 104, 105. Associateship and affiliation, Signature on reports. Offices and branch offices. Liability for offences by firm. Performance of obligations under Act and the Rules. Part X CODE OF CONDUCT AND ETHICS (REGISTERED ESTATE AGENTS) Service. Conduct of registered estate agent. Level of competence, Need to keep informed. Protection of public. Personal interest to be disclosed. Professional fee. Rebates or profits. Participation of others in profits. Financial obligations. Acting for two parties. Professional work by registered estate agent in employment. Activities that constitute unauthorised practice of law. Seeking unfair advantage over other registered estate agents. Engaging in practices inconsistent with agency of another registered estate agent. Soliciting services of employee of another registered estate agent. Criticisms on fellow registered estate agents. Reference to Board of erring registered estate agents. Accuracy of statements. Signature on report, etc. Use of registered estate agent's name. Associateship and affiliation. Offices and branch offices. 45Rule 106. 107. 108. 109. 110. AT 1. 112. 113. 114. 115. 15a. 116. 117. 118. 119. 120. 121, 122. 123. 124, 125. 126. 127, 128, Liability for offences by firm. Conduct in proceedings before Board. Conduct in proceedings before judicial bodies. Board to issue standards, directives, circulars and guidelines on real estate agency practice. Performance of obligations under the Act and the Rules, Pat XI ADVERTISEMENTS AND PUBLICITY ‘Matters forbidden in advertisements. Advertisement to promote business. Advertisement for staff. Printed notices. Advertisement of commercial concern. Content of advertisements and announcements. Brochures. Deleted. Business cards. Registered valuers, appraisers or estate agents employed by an organisation which is not a valuation or estate agency organisation. Postal franks, envelopes, labels, etc. Letterheads. Signboards and posters. Publications in journals, newspapers, etc. Board to issue guidelines in advertisement and publicity. Part XII REGISTERED APPRAISER'S RESTRICTIONS Area of practice. Restriction on value. PART XIII INSPECTORATE, Appointment of Inspectorate. Duties of Inspectorate. 46 1 | |Rule 129. 130. 131. 132, 133, 133a, 134, 134a. 1348, 134e. 134p, 135. 136. 137. 138. 139, 140. 141, 142, 143, 144, 145, 146, Powers of Inspectorate. Remuneration, Part XIV DISCIPLINARY PROCEDURE Disciplinary inquiries. Disciplinary Board. Complaints Investigation Committee. Complaint Reference to Complaints Investigation Committee. Investigation. Notice of complaint. Action by Disciplinary Board. Service of notices and documents. Appearance before Disciplinary Committee. Deleted. Power of Disciplinary Committee to extend time for reply. Decision of Disciplinary Board. Deleted, Notification of decision of the Disciplinary Board. Effect of expulsion and suspension. Publication in newspapers. Members requiring restoration of rights. Part XV APPEALS AND APPEAL BOARD Form and deposit. Fee for Appeal Board members. Travelling subsistence allowances for Appeal Board Members. 47Rule 147, 148, Part XVI REPEAL AND SAVING Repeal. J Saving. FIRST SCHEDULE. SECOND SCHEDULE. THIRD SCHEDULE. FOURTH SCHEDULE. FIFTH SCHEDULE. SIXTH SCHEDULE. SEVENTH SCHEDULE. EIGHTH SCHEDULE. NINTH SCHEDULE. TENTH SCHEDULE. ELEVENTH SCHEDULE. ‘TWELFTH SCHEDULE. 48VALUERS, APPRAISERS AND ESTATE AGENTS: RULES 1986* Iv exercise of the powers conferred by section 32 of the Valuers, Appraisers and Estate Agents Act 1981, the Board of Valuers, Appraisers and Estate Agents, with the approval of the Minister, makes the following rules: Parl PRELIMINARY Citation and commencement. These Rules may be cited as the Valuers, Appraisers and Estate Agents Rules 1986 and shall be deemed to have come into force on the 7th September 1984, 2. Interpretation. In these Rules, unless the context otherwise requires— “advertisement” means any material or product used in the mass media or electronic media and any published material of any kind whatsoever issued or exhibited by or on the authority of aregistered valuer, appraiser orestate agent, primarily designed to promote the registered valuer's, appraiser's or estate agents business”; “client” means a person who engages a registered firm and is responsible for the payment of the registered firm's fees in respect of the services rendered by the registered firm; “clients account” means a current or deposit account in the name of the registered firm at a bank in the title of which account the word “client” appears, or a separate account opened in the name of a person designated! in writing by a client over which the registered firm has power of withdrawal on the signature of the sole proprietor or any partner, co-director or other authorised person connected with the registered firm; “client’s money” means money held or received by a registered firm on account of a person for whom the registered firm is acting either as agent or in any other capacity including that of stakeholder but shall not include money to which the only person beneficially entitled is the registered firm itself or money held in an account by the registered firm jointly with a third party, not being a client, and over which the registered firm does not have a power of withdrawal on the signature of the sole proprietor or any partner, co-director or other authorised person connected with the registered firm; *Published as P.U. (A) 64/1986 and amended by P.U. (A) 118/191, 514/1994, 97/2000. 49 fam. PU(A) 97/2000], [Subs, PU(A) 97/2000)[Am. PU(A) 97/2000] “Continuous Professional Development Programme” meuns a programme for the systematic maintenance, improvement and broadening of knowledge and skills and for the development of personal qualities necessary for the execution of the relevant professional and technical duties throughout the practitioner's working life; “resident branch manager” means a registered valuer, appraiser or estate agent, as the case may be, who heads and manages the brunch office on a day to day basis and who at the same time is notin charge of or managing any other office or branch; “Secretary” or “Secretaries” means the person or the firm of professional secretaries or professional accountants appointed by the Board under rule 10; and “Wanted advertisement” means an announcement published by or on behalf of the registered firm where the primary purpose is to promote the acquisition of properties for a client. Part II ADMINISTRATION 3. Meetings of the Board. The Registrar shall convene a meeting of the Board whenever requested do so by the President. 4. Notice of meetings. (1) Before convening a meeting, the Registrar shall give to every member of the Board not less than fourteen days” notice in writing specifying the date, time and place of the meeting and the business to be conducted at the meeting. (2) The accidental omission to give notice of a meeting to one or more members of thé Board or the non-receipt thereof shall not in any manner atfect the validity of or prejudice anything done or agreed to at the meeting, 5. Votes. (1) At any meeting, any decision on any matter shall be resolved by a resolution proposed and seconded before being put to a vote. (2) Voting shall be by ashow of hands or by secret ballot as may be decided by the President or the member presiding. (3) A declaration by the President or the member presiding that a resolu- tion has been carried or not carried by a particular majority shall be conclusive, and an entry to that effect in the minutes of the meeting, shall be conclusive evidence thereof without proof of the number or proportion of votes recorded in favour of or against the resolution. 50 emer6. Proxies not admitted. Votes shall only be given by members present and voting. 7. Minutes. Minutes of every meeting shall be kept by the Registrar and the minutes, signed by the President or the member presiding at the next succeeding meeting, shall be conclusive evidence of the facts stated therein. 8 Committees. (1) The Board may from time to time by resolution appoint committees from among its members and the Board may by resolution at any time dissolve any committee so appointed. (2) The committee appointed under paragraph (1) may invite any person to attend its meetings and to take part in its deliberations but such person shall have no vote. (3) The President and the Registrar shall be ex-officio members of all committees. (4) Before convening a committee meeting, the Registrar shall give to every committee member not less than fourteen days’ notice in writing specifying the date, time and place of the meeting and the business to be conducted at the meeting. (5) Minutes of every meeting shall be kept by the Registrar and the minutes, signed by the member presiding, shall be conclusive evidence of the facts stated in the minutes. 9. Registrar. (1) The Registrar shall consult the President on any business other than that of a routine nature requiring attention before each meeting of the Board. (2) The Registrar may receive such remuneration as the Board may determine from the Fund of the Board. (3) The Registrar shall receive and be responsible for all monies payable to the Board and shall— (a) at each meeting of the Board, present a statement of account showing receipts and payments as at the last day of the previous month; and (2) not later than 30 June in each year, present to the Board the audited accounts for the previous financial year. 51 (Am. PU(A) 97/2000) Lins, PU(A) 97/2000} Tins. PU(A) 97/2000)(PU(A) 97/2001 [Am. PU(A) 97/2000] [Am. PU(A) 9772000), [Am. PU(A) 9772000] [Deleied) 10. Secretaries. (1) The Board may appoint a person or a firm of professional secretaries or professional accountants to act as Secretary or Secretaries for the Board. (2) (Deleted). (3) (Deleted). (4) The Secretary or Secretaries may receive such remuneration as the Board may determine from the Fund of the Board. 11. Bank account. ‘All payments received shall be deposited to the credit of the account of the Board with a bank or banks approved by the Board except that the Registrar may keep as petty cash a sum not exceeding five hundred ringgit, 12. Cheques. All cheques on the bank account of the Board shall, unless and until otherwise from time to time resolved by the Board, be signed by the President, orinhis absence by amember authorised for that purpose by the Board and one other member of the Board. 13. Account. (1) The Board shall cause to be kept and maintained proper accounts and records relating to— (@) the assets and liabilities of the Board; (B) the sum of money received and expended by or under the authority of the Board. (2) The books of accounts and records shall be kept in the custody of the Registrar or at such place as the Board may determine. 14. Expenses of the Board. ‘There shall be paid to members of the Board for attendunce at meetings of the Board or any committee thereof such fee and travel and subsistence allowances as specified in the First Schedule. 15. Audit. ‘The accounts of the Board shall atleast once every year be audited by a firm of professionally qualified auditors to be appointed by the Board. 16. Financial year. ‘The financial year of the Board shall end on the 31st December of each calendar year. 52Part HT REGISTRATION 17. Forms of application. (1) Every person desirous of being registered as a valuer, estate agent, fine PU(A probationary valuer or probationary estate agent under the Act shall apply to 9/2000/ the Registrar in either Form A (valuer), Form B (estate agent), Form Al (probationary valuer) or Form B1 (probationary estate agent) in the Sccond Schedule. (2) All such applications shall be accompanied by the processing fee prescribed in the Third Schedule. 18. Submission of delivery of appllication to the Board and decision thereon. (1) Within twenty eight days of the receipt of an application for registra- tion, the Registrar shall— (a) submit it to the Board; or (8) cause copies of it to be delivered to every member of the Board. (2) Subject to paragraph (4), the Board shall decide upon the application fAm. PU (A) within ninety days of the date of the submission of the application or the 7/2000] delivery of the copies thereof under paragraph (1), as the case may be: Provided that the time limit prescribed in this paragraph shall not apply to applications made under section 22a (2) of the Act. (3) The delivery under subparagraph (b) of paragraph (1) of a copy of an application to a member of the Board may be effected— (a) by handing it personally to the member; (b) by leaving itat the business premises or office of the memberin the custody of — (ji) a partner or an employee of the member; or (ii) the member's employer; or Gi) an employee of the member’s employer; or (©) by sending it by ordinary post to the member to his home, business or office address, (4) The period of ninety days specified in paragraph (2) shall begin twenty ffs. PU(A) eight days after the application is received by the Registrar. 9772000) 19. Applicant to be notified. (1) The Registrar shall notify the decision of the Board to the applicant by (Mus. PU(A) ordinary post within thirty days of the date of the decision. S7aMOT 53[Am PU(A) 97/2000) Uns. PU(A) 97/2000} (2) The notification under paragraph (1) must state the date of the decision, 20, Registration fee and fee for authority to practise and failure to pay fee. (1) Any person whose application and for an authority to practise as a registered valuer, appraiser or estate agent has been approved shall, within ninety days of the date of notification under rule 19, pay the registration fee and the fee for an authority to practise as prescribed in the Third Schedule (2) Failure to pay the registration fee and the fee for an authority to practise within the period stipulated under paragraph (1) shall be treated as a with- drawal of the application by the applicant and no application from him shall be considered before the expiry of one year from the date on which his previous application was approved. Provided that the Board may consider an application received before the expiry of the aforementioned period if itis satisfied that the failure to pay the registration fee and the fee for an authority to practise was for sufficient cause and reason. (3) The Board may at its discretion reduce or remit the fee for an authority to practise of any person for any year of years if it is satisfied that there is sufficient cause and reason. 20a. Registration of probationary valuers and probationary estate agents. (1) Any person whose application for registration as a probationary valuer ora probationary estate agent has been approved shall, within ninety days of the date of notification under rule 19, pay the registration fee as prescribed in the Third Schedule. (2) Failure to pay the registration fee within the period stipulated under paragraph (1) shall be treated as a withdrawal of the application by the applicant and no application from him shall be considered before the expiry of one year from the date on which his previous application was approved: Provided that the Board may consider an application received before the expiry of the aforementioned period if itis satisfied that the failure to pay the registration fee was for sufficient cause and reason. (3) On receipt of the prescribed fees, the Registrar shall issue a testamen- tary statement indicating that the person concerned is— (a) aregistered probationary valuer working under a registered valuer in a valuation firm; or (0) a registered probationary estate agent working under a registered estate agent in an estate agency firm. 54(4) Theregistration of a probationary valuer or a probationary estate agent, subject to renewal, shall expiry on 31 December of the year in which it was approved. (5) The Board may atits discretion reduce or remit the fee for registration a8 a probationary valuer ora probationary estate agent for any year or years if, it is satisfied that there is sufficient cause and reason, 20s, Renewal of registration of probationary valuers and probationary estate agents, (1) An application for the renewal of the registration of a probationary valuer or a probationary estate agent approved under rule 20a shal be in Form D1 in the Second Schedule. (2) The fee for the renewal of the registration shall be as prescribed in the. Third Schedule. (3) Every applicant who applies for a renewal of the registration shall be notified of such renewal in Form K1 in the Second Schedule. 21. Authority to practise. (1) On receipt of the prescribed fees the Registrar shall issue— (a) an authority to practise as a registered valuer in Form G in the Second Schedule; (b) an authority to practise as a registered appraiser in Form H in the Second Schedule; (c) an authority to practise as a registered estate agent in Form I in the Second Schedule. (2) All authorities to practise issued under the Act shall be signed by the President and the Registrar and sealed with the common seal of the Board in accordance with subparagraph (3) of paragraph 3 of the First Schedule to the Act. (3) All such authorities to practise shall be displayed in a conspicuous place by the registered valuer, ppraiser or estate agent in his regular place of business, ns. PU(A) 97/2000) [Am. PU(A) 97/2000), (4) The authority to practise to be displayed under paragraph (3) shall be fins. PU (A) the original copy issued by the Board under paragraph (1) or the duplicate copy issued by the Board under rule 24. 22. Special authority to practise valuation. (1) Every person desirous of obtaining a special authority to practise valuation under section 22 of the Act shall apply to the Registrar in Form C in the Second Schedule. 55 97/2000} fAm, PU(A) 9772000]Ins, PU (A) 9772000] fam, PU(A) 97/2000} fins. PU(A) 97/2000} TAm. PU(A) 97/2000] fins. PU(A) 97/2000] [ins. PU(A) 97/2000] (1a) An application under paragraph (1) shall be submitted through a local registered firm where the applicant intends to practise. (2) Every application shall be accompanied by the processing fer pre- scribed in the Third Schedule. (3) Within thirty days of the receipt of an application for a special authority to practise valuation the President shall decide upon the application. (4) Every applicant shall be notified by ordinary post of the decision of the President and the date of such decision within fourteen days of the dare of such decision (5) Any person whose application for a special authority to practise valuation has been approved shall within thirty days of the date of notification pay the fee prescribed in the Third Schedule, (6) Failure to pay such prescribed fee within the period stipulated in paragraph (5) shall be treated as a withdrawal of the application by the applicant and no application from him shall be considered before the expiry of 180 days from the date on which his previous application was approved: Provided that the President may consider an application received before the expiry of the aforementioned period if he is satisfied that failure to pay the prescribed fee was for sufficient cause and reason, (7) On receipt of the prescribed fee the President shall issue to the applicant a special authority to practise valuation in Form J in the Second Schedule. 23. Application for renewal. (1) Anapplication for renewal of an authority to practise issued under rule 21 shall be in Form D in the Second Schedule. (1a) An application under paragraph (1) shall be accompanied by— (a) adetailed statement of the hours attended in the Continuous Profes- sional Development Programme and copies of the relevant certifi- cates of attendance; and (b) such other documents as the Board may require, (2) The renewal fee for an authority to practise shall be as prescribed in the ‘Third Schedule. (3) Every applicant who applies for renewal of an authority to practise shall be notified of such renewal in Form K in the Second Schedule. 24, Duplicate authority to practise. (1), All applications for a duplicate authority to practise shall be made in 56 penicdeccssaacceaitForm E in the Second Schedule and shall be accompanied by the prescribed fee. (2) The fee payable for a duplicate authority to practise shall be as prescribed in the Third Schedule. 25. Application for reinstatement, (1) An application for reinstatement pursuant to subsection (4) of section 26 of the Act shall be in Form F in the Second Schedule. (2) The reinstatement fee and charges shall be as prescribed in the Third Schedule. (3) Every applicant who applies for reinstatement pursuant to subsection (4) of section 26 of the Act shall be notified of the Board’s decision in Form Lin the Second Schedule, 25a. Cessation of practise. (1) Ifa registered valuer, appraiser or estate agent ceases to practise as such he shall, at least fourteen days before the cessation of practise as such, notify the Registrar in Form M in the Second Schedule. (2) Notwithstanding paragraph (1), if a registered valuer, appraiser or estate agent ceases to practise as such due to the death of such person, the notice required under paragraph (1) shall be given to the Registrar by the personal representative of the deceased registered valner, appraiser or estate agent within thirty days of the date of the death (3) The registered valuer, appraiser or estate agent or his representative shall, not later than fourteen days after the cessation of practise as a valucr, an appraiser or an estate agent cause such cessation to be advertised in at least one national language and one English language national daily newspaper. PART IIIA. REGISTRATION OF FIRMS 258. Application for registration, (1) Every firm desirous of being for registered to practise valuation, appraisal or estate agency under section 23 of the Act shall apply to the Registrar in Form N in the Second Schedule. (2) Every application shall be accompanied by the processing fee pre- scribed in the Third Schedule. (3) In the case of a body corporate incorporated under the Companies Act 1965, an application shall be accompanied by a copy of the memorandum and articles of association. ST Ens. PU(A) 97/2000) Eins, PU(A) 97/2000} [Ine PU(A) 772000) [Act 125)(4) In the case of a partnership, an application shall be accompanied by a copy of the partnership agreement. (5) Ifthe memorandum or articles of association or any other instrument constituting or defining the constitution of an applicant are amended, either a certified true copy of the instrument effecting the amendment or a certified true copy of the amended memorandum ot articles of association or other instrument shall be submitted with the application, 25c, Submission of application to Board. (1) Ifthe Registrar is satisfied that an application under rule 25 satisfies the requirements of section 23 of the Act and these Rules, the Registrar shall within thirty days of the receipt of the application — (a) submitit to the Board; or (b) cause copies of it to be delivered to every member of the Board (2) Subject to paragraph (4), the Board shall decide upon the application within thirty days of the date of the submission of the application or the delivery of the copies thereof under paragraph (1), as the case may be. (3) The delivery under subparagraph (b) of paragraph (1) of a copy of an application to a member of the Board may be effected— (a) by handing it personally to the member. (b) by leaving it at the business premises or office of the member in the custody of — (@ a partner or an employee of the member; or (ii) the member's employer; or (iii) an employee of the member's employer; or (c) by sending it by ordinary post to the member to his home, business or office address. (4) Where copies of an application are delivered in accordance with paragraph (3) the period of thirty days specified in paragraph (2) shall commence thirty days after the receipt of the application by the Registrar. 25», Consideration of application. (1) On receipt of an application made under rule 258, the Board shall satisfy itself as to the following matters: (a) that the applicant satisfies the ownership requirements specified in section 23 of the Act; (b) that the applicant satisfies the requirements as to its name specified in rule 25x; and 58(©) that the particulars and documents submitted by the applicant satisfy the requirements of the Board. (2) If the Board is not satisfied that the requirements specified in sub- paragraph (a) or (6) of paragraph (1) have been satisfied, the Board shall return the application to the applicant with a statement on the defects in the application and shall direct that— (@) the application be re-submitted; or (b) the necessary particulars or documents be submitted. 25x. Notification of Board’s decision. (1) The Registrar shall notify the decision for the Board to the applicant by ordinary post within thirty days of the date of the decision. (2) The notification under paragraph (1) must state the date of the decision. 25r. Registration fee. (1) Any person whose application for registration as a valuation, appraisal or estate agency firm has been approved shall, within ninety days of the date of notification under rule 25e, pay the registration fee as prescribed in the ‘Third Schedule. (2) Failure to pay the registration fee within the period stipulated under paragraph (1) shall be treated as a withdrawal of the application by the applicant and no application from that applicant shall be considered before the expiry of one year from the date on which the previous application was approved: Provided that the Board may consider an application received before the expiry of the aforementioned period if itis satisfied that the failure to pay the registration fee was for sufficient cause and reason. (3) The Board may at its discretion reduce or remit the fee for registration as a valuation, appraisal or estate agency firm for any year or years if it is satisfied that there is sufficient cause and reason, 25c. Authority to practise. (1) On receipt of the prescribed fees the Registrar shall issue an authority to practise valuation, appraisal or estate agency as a firm in Form O in the Second Schedule. (2) An authority to practise issued under the Act shall be signed by the President and the Registrar and sealed with the common seal of the Board in accordance with subparagraph (3) of paragraph 3 of the First Schedule to the Act. 59(3) An authority to practise shall be displayed in a conspicuous place by the registered firm at its regular place of business und at each of its branch offices, if any. (4) The authority to practise to be displayed under paragraph (3) shall be the original copy issued by the Board under paragraph (1) orthe duplicate copy issued by the Board under rule 25. 25u, Withdrawal of authority to practise. ‘The Board shall withdraw the authority to practise issued under rule 25 if itis satisfied that— (@) the applicant has contravened any of the terms or conditions of the authority to practise issued; or (b) the applicant or a person who is a sole proprietor, a partner or a director of the applicant has, in connection with the application made under rule 25s or at any time after the issue of the authority to practise, provided false or misleading information to the Board. 251, Renewal of authority to practise. (2) Anapplication for renewal of an authority to practise issued under rule 25c shall be in Form P in the Second Schedule and shall be accompanied by the renewal fee. (2) An application under paragraph (1) shall be accompanied by— (@) a copy of the auditor's report referred to in subparagraph (b) of paragraph (1) of rule 59; (0) a certified true copy of the firm's structure as at the date of the application; (©) a copy of the firm’s shareholding structure as at the date of the application; (@) acopy of the firm's letterhead; and (e) such other documents as the Board may require. (3) The renewal fee for an authority to practise shall be as prescribed in the Third Schedule. (4) Every applicant who applies for renewal of an authority to practise shall be notified of such renewal in Form Q in the Second Schedule, 253.Duplicate authority to practise. (1) An application for a dur’.cate authority to practise shall be in Form R in the Second Schedule .nd shall be accompanied by the prescribed fee 60 i } | |(2) The fee payable for a duplicate authority to practise shall be as prescribed in the Third Schedule. 25x. Name of firm. (1) A firm shall not be registered by a name that, in the opinion of the Board, is— (a) aname that is undesirable; () a name or a name of a kind that is likely to deceive or cause confusion to the public or would be contrary to law; (©) a name that is identical with a name belonging to a different registered firm and entered in the Register of Firms in respect of that firm; or (@ a name that so nearly resembles a name belonging to a different registered firm as is likely to deceive or cause confusion. (2) If separate applications are made by different persons to be registered under the Act and the names proposed for registration are identical or so nearly resembling each other as are likely to deceive or cause confusion, the Board may refuse to register any of them. (3) Before applying for registration under the Act and before changing its registered name, a firm shall apply to the Registrar for a search of the Register of Firms as to the availability of the proposed name of the intended firm. (4) An application under paragraph (3) shall be made in Form $ in the ‘Second Schedule and shall be accompanied by the fee prescribed in the Third Schedule. 251. Change of name or address. (1) If a registered firm decides to change its registered name or its registered business address, the registered firm shall, at least fourteen days before such change, apply to the Board to amend the Register of lirms accordingly. (2) An application under paragraph (1) shall be made in Form T in the Second Schedule and shall be accompanied by the fee prescribed in the Third Schedule, (3) The Board may require an applicant under paragraph (1) to give such evidence, by statutory declaration or otherwise, as the Board deems fit as to the circumstances of the change of the registered firm’s name under the applicable law. (4) If the Board approves the application made under paragraph (1), the Board shall— 6L[Am PU(A) 97/2000] [Am PU(A) 9772000} (@ amend the Register of Firms accordingly; and (®) issue to the applicant a certificate of change of name or change of business address in Form U in the Second Schedule, (5) The change of name or change of business address shall be effective on the issue of the certificate referred to in subparagraph (b) of paragraph (1). (6) The registered firm shall, not later than fourteen days after the date of receipt of the certificate referred to in subparagraph (b) of paragraph (4), cause such change of name or change of business address to be advertised in at least one national language and one English language national daily newspaper. (7) A change of name under this rule shall not affect the identity of the registered firm or any rights or obligations of the registered firm or render defective any legal proceedings by or against the registered firm and any legal proceedings that might have been continued or commenced by or against the registered firm by its former name may be continued or commenced by or against the registered firm by its new name. 25m, Cessation of firm. (1) Ifa registered firm ceases to practise valuation, appraisal or estate agency, the sole proprietor, partner, director or other responsible officer of the registered firm shall, at least fourteen days before the cessation of practise by the registered firm as such, notify the Registrar in Form V in the Second Schedule. (2) Notwithstanding paragraph (1), if a registered firm ceases to practise valuation, appraisal or estate agency due to the death of the sole proprietor, partners or directors of the registered firm and in the case of a partnership or body corporate there are no surviving partners or directors, the notice required under paragraph (1) shall be given to the Registrar by the personal represen- tative of the sole proprietor or the personal representative of the last surviving partner or director in the case of a partnership or body corporate, as the case may be, within thirty days of the date the registered firm ceases to practise. (3) The registered firm or its representative shall, not later than fourteen days after the cessation of practise of valuation, appraisal or estate agency cause such cessation to be advertised in at least one national language and one English language national daily newspaper. Part IV. REGISTERS 26. Maintenance of Registers. ‘The Registrar shall keep and maintain for the Board a Register of Valuers, Appraisers and Estate Agents, a Register of Probationary Valuers/Probation- 62 iousary Estate Agents and a Register of Firms in the forms specified in the Fourth Schedule, 27. Inspection of Registers. (1) The Register of Valuers, Appraisers and Estate Agents, the Register of Probationary Valuers/Probationary Estate Agents and the Register of Firms shall be open to inspection by any person on payment of the fee prescribed in the Third Schedule. (2) The Registrar may, on request in writing and on payment of the fee prescribed in the Third Schedule, provide any person with— (a) acopy of any of the Registers referred to in paragraph (1) orany part of any such Registers; and (b) a certified copy of any entry in any of the Registers referred to in paragraph (1). 28, Directories, (1) The Registrar may publish or cause to be published directories of registered valuers, appraisers and estate agents, registered probationary valuers and probationary estate agents, and registered firms in such form and manner as the Registrar may determine. (2) Copies of the directories published under paragraph (1) may be offered for sale at the price prescribed in the Third Schedule. 28a. Amendment of Registers. (1) The Registrar may, on request in writing by a registered valuer, appraiser, estate agent, probationary valuer, probationary estate agent or firm, as the case may be, amend the Register of Valuers, Appraisers and Estate Agents, the Register of Probationary Valuers/Probationary Estate Agents or the Register of Firms, as the case may be— (a) by correcting an error orentering any change in the name or address of the registered valuer, appraiser, estate agent, probationary valuer, probationary estate agent or firm, as the case may be, in the relevant Register; or (b) by cancelling the entry of the registered valuer, appraiser, estate agent, probationary valuer, probationary estate agent or firm, as the case may be, in the relevant Register. (2) If the Register of Valuers, Appraisers and Estate Agents, the Register of Probationary Valuers/Probationary Estate Agents or the Register of Firms is amended under paragraph (1), the Registrar may make any consequential amendment in the relevant authority to practise and for that purpose may require the authority to practice to be submitted to the Registrar. 6 ns. PU(A) 9772000) fins, PU(A) 97/2000}Part V EXAMINATIONS 29, Conduct of examinations. “ns. PU(A) (1) The Board shall conduct examinations for candidates desiring to be 97/2000] yegistered as valuers, estate agents, probationary valuers or probationary estate agents at such times as the Board deems fit. (2) For the purposes of but without prejudice to paragraph (1), the Board ‘may appoint the Institution of Surveyors (Malaysia) or any other institution of higher learning or professional institution to conduct the examination on its behalf. 30. Dates and centres of examinations. (1) The Board shall publish in at least two local newspapers the date and centres for these examinations. 31. Applications. J4m PU(A) (1) ENery person desirous of sitting for these examinations shall apply to 9772000] the Registrar in the form prescribed in the Fifth Schedule. jam. PU(A) (2) Application forms duly signed by the candidate and his principal must 9772000] he submitted to the Registrar before such date as may be specified by the Board. (3) Applicants must submit their applications either personally or by registered post. jAm.pu(a) (4) The receipt of all applications shall be acknowledged by the s7n000} Registrar. 32. Eligibility. (1) Candidates for these examinations shall not be Jess than seventeen years of age on the Ist January of the year of the examination. (2) (a) Candidates for the valuer’s examinations must show proof to the satisfaction of the Board either— (i) that they possess not less than two principal level passes at Higher School Certificate level or its equivalent with a prin- cipal level pass in Mathematics or Economics or Geography; or (ii) that they are registered appraisers. Am. PU(A) (b) Candidates for the estate agent’s examinations must show proof to 97/2000) the satisfaction of the Board that they possess not less than a Sijil Pelajaran Malaysia or its equivalent with not less than five subject passes of which at least three shall be credit level passes and at least 64 a indent (one of the credit level passes shall be in Mathematics or Science or Accounts or Commerce; (3) Candidates for the valuer’s examination must satisfy the Board that— (a) they have been working full-time in an office of a registered valuer ot appraiser assisting in valuation work for at least six months before the date of the application to sit for the examination; or () they are engaged in full-time study in a technical college, an institution or an university approved by the Board; and (4) Candidates for the estate agent's examinations must satisfy the Board that— (a) they have been working full-time in an office a registered estate agent assisting in estate agency work for at least six months before the date of the application to sit for the examination; or (6) they are engaged in full-time study in a technical college, an institution or an university approved by the Board. 33s) Valuer's examinations. (1) The valuer’s examinations set by the Board shall consist of— (a) a First Examinations; (b) an Intermediate Examination; (c) a Final Examination or a Direct Final Examination; and (@ a Test of Professional Competence. (2) The First, Intermediate and Final or Direct Final Examinations shall be written examinations. (3) The Test of Professional Competence shall consist of a practical examination and an oral examination, (4) Subject to paragraph (5), a candidate shall pass all of the subjects in each of the Examinations specified in paragraph (1) to be eligible to proceed to the next level of the Examinations prescribed. (5) The Board may allow the following persons to proceed directly to the Direct Final Examination: (a) a person with a recognised university degree or an equivalent diploma from an institution of higher learning who is working full- time in an office of a registered valuer, if the Board is satisfied with such degree or diploma; (6) a registered estate agent who has not less than five yeurs experience in estate agency since his registration as an estate agent under the Act; and 65 [Am. PU(A) 97/2000} [Am, PU(A) 9772000} Lins. PU(A) 9772000} [Am. PU(A) 9772000] Ils. PU(A) 97/2000}[ins. PUA) 97/2000} (c) aperson of not less than twenty-seven years of age who possesses a School Certificate or a Malaysian Certificate of Education or a Sijil Pelajaran Malay sia with not less than five credit level passes in any subject and has not less than seven years of experience working under the supervision of a registered valuer. (6) A candidate shall pass all of the subjects in each of the Examinations specified in subparagraphs (a), (b) and (c) of paragraph (1) in the following manner: (@) inrelation to the First Examination, in not more than three attempts and within a period of three years; (b) in relation to the Intermediate Examination, in not more than three attempts and within a period of four years; and (©) in relation to the Final Examination or the Direct Final Examina- tion, in not more than five attempts and within a period of five years. (7) A candidate for the Test of Professional Competence shall satisfy the following conditions: (a) has been registered as a probationary valuer under the Act; (b) has passed the Final Examination or the Direct Final Examination, as the case may be, specified in paragraph (1) or has passed the examinations of an institution of higher learning or a professional institution specified in the Sixth Schedule; and. (c) has completed two years of post-qualifying practical experience under a registered valuer or a registered appraiser practising in Malaysia. (8) Notwithstanding subparagraph (c) of paragraph (7), the Board may reduce the period of post-qualifying practical experience required to one year if the candidate satisfies the Board that the candidate has completed a minimum of two yéars of supervised practical experience in valuation over- (9) The Board may issue guidelines to facilitate the conducting of the Tesi of Professional Competence. (10) A candidate who has passed the Test of Professional Competence shall be considered to have passed the valuer’s examinations. 33a, Estate agent’s exaininations. (1) The estate agent’s examinations set by the Board shall consist of— (@) Part Examination; (0) a Part Il Examination; and (c) a Test of Professional Competence. 66 pes(2) The Part 1 Examination and Part I] Examination shall be writen examinations. (3) The Test of Professional Competence shall consist of a practical examination and an oral examination. (4) A candidate shall pass all of the subjects in each of the Examinations specified in paragraph (1) to be eligible to proceed to the next level of the Examinations prescribed. (9) A candidate shall pass all of the subjects in each of the Examinations specified in subparagraphs (a) and (6) of paragraph (1) in the following manner: (@) inrelation to the Part I Examination, in not more than three attempts and within a period of three years; and (®) in relation to the Part II Examination, in not more than three attempts and within a period of four years. (6) A candidate for the Test of Professional Competence shall satisfy the following conditions: (a) hasbeen registered as a probationary estate agent under the Act; and (6) has either— (®_ passed the Part II Examination specified in paragraph (1) and completed two years of post-qualifying practical experience in an estate agency firm; (ii) passed the examinations of an institution of higher learning or "| a professional institution specified in the Sixth Schedule and / completed one year of post-qualifying practical experience in an estate agency firm; or (iii) passed any other examinations approved by the Board and completed two years of post-qualifying practical experience in an estate agency firm, (7) The Board may issue guidelines to facilitate the conducting of the Test of Professional Competence. (8) A candidate who has passed the Test of Professional Competence shall be considered to have passed the estate agent’s examinations. 34, Syllabi. The syllabi for examinations of the Board shall be as determined and published by the Board from time to time. 35. Examiners, Supervisors and invigilators. (1) The Board may from time to time appoint suitable persons to be examiners, supervisors and invigilators of these examinations. 67“fam. PU(A) 97/2000} [Am PU(A) 97/2000] [Am. PU(A) 972000] Lins, PU(A) 97/2000} tam. PU(A) 9772000) [Am. PU(A) 97/2000} Lins. PU(A) 97/2000] (2) The fees to be paid to such examiners, supervisors and invigilators shall be as prescribed in the Fifth Schedule. 36. Passing mark. “The passing mark for each subject of the examinations and for the Test of Professional Competence shall be fifty percent (50%). 37. Credits. (1) Candidates may take all or any of the subjects preseribed for any Examination in one examination at one sitting and be given credits for the subjects passed. (Ja) The credits acquired under paragraph (1) shall lapse if the candidate fails to pass the relevant Examination in the attempts and within the periods specified in paragraph (6) of rule 33 or paragraph (5) of rule 33a, as the case may be. (2) Candidates who have obtained credits in all the subjects of any Examination will be considered as having passed that Examination. 38. Results. (1) Immediately after the results of the examinations have been decided by the Board, the Registrar shall notify every candidate whether he has passed or failed the Examination he sat for. (2) Except as aforesaid no further information of the result of the exami- nations shall be given by the Board to any person, and no examiner shall disclose the result of any examination or any matter connected with the result except to the Board or as the Board may direct. 39. Appeals. (1) Any candidate dissatisfied with the marking of his answer papers may appeal to the Board within thirty days of the date of receipt of the notification of the results. (2) The Board shall not consider any appeal before the payment of the fee prescribed in the Fifth Schedule and seventy five percent (759) of this fee shall be returned to the candidate should his appeal be successful. 40. Fees. (1) The fees for the Board’s examinations are as prescribed in the Fifth Schedule. (2) Any candidate who has not paid the prescribed fees shall not beallowed into the examination centres. 68(3) Candidates withdrawing from the examinations at any time but not within four weeks before the said examination shall forfeit fifty percent (50%) of their fees. (4) Candidates withdrawing within four weeks of the said examinations shall forfeit one hundred percent (100%) of their fees. (5) Candidates absenting themselves from the whole examination shall forfeit all their fees and candidates producing medical certificates acceptable to the Board certifying that they were made incapable of sitting for the examinations due to illness shall have the whole or part of their fees returned to them at the discretion of the Board. 41. Diploma. The Board shall confer a diploma on every candidate who has passed the Part II Examination of the estate agent’s examinations under rule 33a. 42. Examination committee. (1) The Board may appoint from among its members and other suitable persons registered under the Act to an examination committee to organise and conduct these examinations, (2) The examination committee may with the approval of the Board issue such instructions to examiners, supervisors, invigilators and candidates as it considers necessary for the conduct of these examinations. (3) The members of the examination committee shall be paid such fees as prescribed in the Fifth Schedule. Part VI EXEMPTIONS AND PRACTICAL EXPERIENCE 43. Exemptions. (1) The Board may accept the examinations of institutions of higher learning or professional institutions either in Malaysia or overseas in lieu of the Board’ s examinations if its is satisfied that the standard thereof is not less than that of the Board’s examinations. (2) In considering such examinations regard shall be had to— (@) the minimum entry to such institutions requirements; (b) the syllabus content and whether or not the subjects studied have relevance to Malaysian practi (©) the questions set; (d) the standard of marking; (e) the library facilities of the institutions; and 69 Lins. PU(A) 9772000}Eins. PU(A) 97/2000} fins. PU(A) 9772000} (P)_ the practical experience gained by the applicant while studying at such institutions. (3) The Board may exempt candidates from any part or parts of its written examinations if itis satisfied that a candidate has obtained a pass in any part of an examination which it considers equivalent or higher to such part or parts and such exemption shall be subject to a processing fee as prescribed in the Fifth Schedule. (4) There shall be no exemptions on a subject by subject for any of the Board’s examinations except as may be decided otherwise by the Board basis. 44, Examinations of other institutions. ‘The examinations of institutions of higher learning or professional institu- tions either in Malaysia or overseas that the Board considers of a standard not less than that of its written examinations shall be as specified in the Sixth Schedule. 45. Practical experience. (1) The Board shall be satisfied thata candidate has the minimum practical training and experience specified in paragraphs (1) and (1) before register- ing him as a valuer or an estate agent under the Act. (1a) The minimum practical training and experience required for a candi- date to be registered as a valuer are— (a) that he has passed the Test of Professional Competence set by the Board; and (b) that he has either— G) two years post-qualifying practical training and experience in Malaysia under a registered valuer after the date of the coming into force of the Act; or (ii) three years experience lecturing in a recognised local institu- tion of higher learning with either— (A) aminimum of 1,600 hours of practice on » part-time basis, in a valuation establishment in Malaysia under a regis- tered valuer within those three years; or (B) @ minimum of one year’s continuous full-time employ- ‘ment in a valuation establishment in Malaysia under a registered valuer within those three years. (1s) The minimum practical training and experience required for a candi date to be registered as an estate agent are— (a) that he has passed the Test of Professional Competence set by the Board; and 70 fe(b) that he has two years post-qualifying practical taining und experience in Malaysia under a registered estate agent in a regis- tered estate agency firm. (ic) Notwithstanding subparagraph (6) of paragraph (18), the Board may reduce the period of post-qualifying practical training and experience required to one year if the candidate is a registered valuer. (2) The two years post-qualifying practical training and experience required under subsubparagraph (i) of subparagraph (b) of paragraph (1A) and subparagraph (b) of paragraph (18) shall be on a full-time basis. (3) The Board may exempt any candidate from the Test of Professional Competence for valuers or the Test of Professional Competence for estate agents if it is satisfied that the candidate has passed a similar test which it considers as equivalent or of higher standard, and such exemption shall be subject to a processing fee as prescribed in the Fifth Schedule. (4) Tests of Professional Competence which the Board considers of a standard not less than its tests shall be as specified in the Sixth Schedule. 46. Documentary evidence of practical training required. Applicants for registration shall produce documentary evidence that they have undergone the practical training and experience mentioned in rule 45 to the satisfaction of their employer. 47. General practice surveyors provisionally registered under Registration of Surveyors Act 1967. General practice surveyors provisionally registered under the Registration of Surveyors Act 1967 at the date of the coming into force of the Act shall complete such period of practical training and experience as required under the Registration of Surveyors Act 1967 in order to comply with the require- ments of this Part. PART VII SCALE OF FEES 48. Scale of fees. (a) The scale of fees to be charged by the registered valuers, appraisers and estate agents for professional advice or services rendered shall not be more than those prescribed in the Seventh Schedule. (6) The values shown in the Seventh Schedule shall be deemed to be the total amount undertaken under one specified instruction. n Tins, PU(A) 9772000] [Am. PU(A) 9772000] (Am. PU(A) 97/2000}+ [Am, PU(A) 97720001 Lins. PU(A) ‘9772000} tAm. PU(A) 97/2000} Tam, PU(A) 9772000] Am. PU(A) 9772000] [Am PU(A) 972000] Lins. PU(A) 97/2000} Jam. PU(A) 9772000] [Am PU(A) 97/2000] Part VIII CLIENT'S ACCOUNTS, 49. Client’s accounts. (1) A registered firm that holds or receives client's moneys must keep at least one client’s account or as many such accounts as it considers fit for such money’s. (1a) A registered firm that holds or receives client’s moneys in relation to its property management business must keep at least one client's account or ‘as many such accounts as it thinks fit for such moneys. (2) Every registered firm that holds or receivers a client's money shall without delay pay such money into the relevant client's account. 50. Payment into client’s accounts, Where a registered firm holds or receives a cheque or banker's draft or postal or money order which includes client's moneys, it shall pay such cheque or draft or postal or money order into the relevant client's account. 51. Maintaining client’s accounts. (1) There may be paid into a client’s account such moneys belonging to a registered firm as may be the minimum required by the bank for the purpose of opening or maintaining that account. (2) There may be paid into a client’s account moneys to replace any sum which for any reason may have been drawn from the account in contravention of these Rules. 52. Payment of money other than client’s money into client’s account forbidden. No money other than moneys which a registered firm, is required or permitted to pay into a client’ s account shall be paid into such an account, and itshall be the duty of the registered firm into whose client's accountany money has been paid in contravention of these Rules to withdraw such moneys without delay once such payment has been discovered. 53. Drawing from client’s accounts. (1) No money may be drawn from a client's account except— (@) moneys properly required for payment to or on behalf of a client; (b) moneys properly required for or towards reimbursement of moneys expended by the registered firm on behalf of a client; (©) moneys properly required for or towards payment of a registered firm's fees and disbursements— 7(i) where there has been delivered to the client orhis solicitora bill for such fees and disbursements or other written intimation of the costs incurred and it has thereby or otherwise in writing been made clearto the client or his solicitor that money is being or will be applied towards or in satisfaction of such fees and disbursements; or (ii) where such drawing may have been expressly authorised in writing by a client beforehand; (@ money (originally forming part of a larger sum paid into a client's [4m. PU(A) account by virtue of rule 50) to which the registered firm is 97/2000] beneficially entitled and such sum shall be withdrawn from a client’s account as soon as the net amount of the registered firm's entitlement can be qualified; (e) moneys which are transferred to another client’s account; Iam. PU(A) 97/2000} (such money as may have been paid into an account under paragraph (1) of rule 51; (g) such money which for any reason may have been paid into an account in contravention of rule 52: Provided that moneys drawn on behalf of a client from a client’s accountunder subparagraphs (a), (b), (c),(d), or (e)shall notexceed the total of the moneys held at the time of such drawing on behalf of that client. (2) No money drawn from a client's account under subparagraph (b), (c), (d), (f) or (g) of paragraph (1) shall be drawn except by— (a) acheque drawn in favour of the registered firm; or Am, PU(A) 97/2000} (b) a transfer toa bank account in the name of the registered firm not /Am. PU(A) being a client's account. 9772000) (3) No money may be drawn froma client’s account otherwise than under the signature of at least one of the following: (a) the registered valuer, appraiser or estate agent; (b) a partner or director of the firm of the registered valuer, appraiser. (Deleied) or estate agent; (c) a registered valuer, appraiser or estate agent employed by the (Deleied? registered valuer, appraiser or estate agent in his firm; (d) an authorised person employed by a registered valuer, appraiser or (Am. PU(A) estate agent, or his firm; 9772000} (e) in exceptional circumstances, a person not falling within sub- (Am. PU (A) paragraph (a), (6), (c) or (d) expressly authorised by the Board: 97/2000) Provided that any signatory referred to in subparagraph (c), (d) (Am. PU(A) or (e) is covered in the registered valuer’s, appraiser’s or estate 97/2900/ 3fam, PU (A) 9772000) fm. PU(A) 9772000} [Am. PU(A) 97/2000] Am. PUA) 97/2000) [Am. PU(A) 9772000} Am. PU(A) 9772000} [Am. PU(A) 97/2000} [Am. PU(A) 972000] Am, PU(A) 97/2000] agent's firm’s professional indemnity insurance policy and fidelity guarantee insurance policy. (4) Notwithstanding anything contained in these Rules the Board may on the application of any registered or ofits own motion authorise the withdrawal of money from aclient’s account in circumstances which would otherwise not be permitted by these Rules. 54, Exception. (1) Notwithstanding the provisions of these Rules a registered firm shall not be under an obligation to pay into a client's account moneys held or received by it— (a) which are received by it in the form of cash and are without delay paid in cash in the ordinary course of business to a client or on his behalf to a third party; or (b) which are received by it in the form of cheque or draft which are endorsed over in the ordinary course of business to aclient or on his behalf to a third party and are not passed by the registered firm through a bank account; or (c). which it pays into a separate account opened in the name of a client or of some person designated in writing by the client. (2) Notwithstanding the provisions of these Rules, a registered firm shall not pay into a client’s account money held or received by it— (a) which is received by it for or towards payment of a debt due to the registered firm from a client or in reimbursement of money ex- pended by the registered valuer, appraiser or estate agent on behalf of aclient; (b) which is expressly paid to it for fees and disbursements incurred in respect of which a bill or other written intimation of the amount incurred has been delivered for payment, or as an expressly agreed fee or commission for business undertaken or to be undertaken: or (©) which the client for luis own convenience requests it be withheld from such account, the request to be in writing from the client and acknowledged in writing by the registered firm. 55. Transfer from one client’s account to another. No sum shall be transferred from the account of one client to that of another except in circumstances in which it would have been permissible under these Rules to have withdrawn from a client's account the sum transferred from the first client and to have paid into a client’s account the sum transferred to the second client. 74,56. Interest on client’s account. (1) Any registered firm that maintains a client's account in the form of a deposit account shall account to such client for the interest earned by such an account, (2) Any registered firm that retains money as stakeholder in the form of a deposit account for parties other than a client shall account to such parties for the interest earned by such an account. 57. Insurance cover for client’s money. (1) A registered firm may not accept client's money or operate client’s account in the course of its work unless there are in force arrangements under which in the event of its failing to account for such money to the client, its liability will be made good by an insurer. (2) The Board may issue guidelines for the purpose of giving effect to this rule. 58. Books and records. (1) Every registered firm shall at all times keep properly written up such accounts as may be necessary— (@ to show its dealings with— (@ all client’s money received, held or paid by it; and (ii) any other money dealt with by it through a client’s account; (b) to show separately in respect of each clientaall client’s money which is received, held or paid by it on account of such clients. (2) All dealings referred to in subparagraph (a) of paragraph (1) shall be recorded as appropriate either— (a) in a client's cash book or in client's column of a cash book; or (b) in arecord of sums transferred from the ledger account of one client to that of another, and in addition, in a client’s ledger, or in a client’s column of a ledger. (3) Every registered firm shall in every succeeding period of ninety days cause the balance of its client’s cash book, or client’s column of its cash book, to be agreed with its client’s account book statements and with its client's ledger balances and shall Keep in the cash book or other appropriate place a reconciliation statement showing this agreement. (4) Inthis rule, the terms “accounts”, “book” and “ledgers” include loose leaf books and such cards or other permanent documents or records as are necessary for the operation of any system of book-keeping, mechanical or otherwise, including computer-operated systems. 15 Am. PU(A) 97/2000) tAm. PU(A) 97/2000}, fins. PU(A) ‘g772000] [Am. PU(A) 97/2000}, fAm, PU(A) 97/2000},Am. PU(A) - 97/2000] Am, PU(A) 97/2000] [Am, PU(A) 97/2000} [Am. PU(A) 97/2000] [Am. PU(A) 97/2000} [Am. PU(A) 9772000} (Am. PU(A) 9772000) [Am. PU(A) 97/2000} (5) A register of all client's accounts must be maintained, 59, Enforcement, (1) Once in each period of twelve months every registered firm that holds out to the public as a firm or holds out to the public as a partner in a firm or a director of a company carrying on practice as registered firm shall deliver to the Board— (a) a certificate as prescribed in the Eighth Schedule signed by the registered that during the accounting period covered thereby it did or did not receive or hold client's moneys; and (b) if it did, an auditor’s report issued by a firm of recognised profes- sional auditors in the form prescribed in the Eighth Schedule relating to the accounting period. (2) The cerfiticate and, where relevant, the report under paragraph (1) shall be delivered to the Board not later than six months after the end of the accounting period to which it relates. (3) The accounting period— (a) shall begin at the expiry of the last preceding accounting period for which a certificate under paragraph (1) has been delivered; (b) shall cover not less than twelve months; and (©) shall where possible correspond to a period or consecutive periods for which the accounts of the registered firm are ordinarily made up: Provided that in respect of a registered firm that commences or recommences to practice as a registered firm either as a sole proprietorship, a partnership or a body corporate or in respect of the first certificate, the accounting period may be for a period of less than twelve months. (4) In the case of a registered firm that has two or more places of business— (a) separate accounting periods covered by separate certificates and separate auditor's reports may be adopted in respect of each place of business; and (b) the auditor’s report or reports delivered by such registered firm in each year shall cover all client’s moneys held or received by it. (5) The provisions of paragraph (1) shall, in the cae of a firm carrying on practice as registered valuers, appraisers or estate agents be deemed to have been satisfied in respect of all registered valued, appraisers or estate agents who are named in one certificate or in the auditor's report as being partners or directors of the firm concerned and who have signed the said certificate. 1660, Production of books of the Board. In order to ascertain whether these Rules have been complied with, the Board acting on its own motion or on being satisfied on a written complaint being lodged with it by a third party there is prima facie evidence thata ground of complaint exists, may require a registered firm to produce at a time and place to be notified to registered firm by the Board its books of account, bank pass books, looseleaf bank statements, statements of account, vouchers including petty cash vouchers and any other necessary documents for the inspection of any person appointed by the Board and to supply to such person any necessary information or explanation and such person shall prepare for the information of the Board a report of such inspection. 61. Requirements to be made under the hand of the President. A requirement to be made of the registered firm under the hand of the President and shall be sent by A.R. Registered Post to the last known address of the registered firm, PART IX CODE OF CONDUCT AND ETHICS (REGISTERED VALUERS AND APPRAISERS) 62, Service. The first duty of every registered valuer or appraiser is to render service to his client or his employer with absolute fidelity uphold the interest of his client and the dignity of his profession, and to practice his profession with devotion to the high ideals of integrity, honour and courtesy, loyalty to his country, and in a spirit of fairness and goodwill to his fellow valuers, appraisers, employees, and subordinates. 63. Conduct or registered Valuer or Appraiser. (1) A registered valuer or appraiser shall act towards his client in all professional matters strictly in a fiduciary manner and shall hold as confidential the results and other findings of his work and any report, until released from his obligation by his client, or until the transaction or proceedings for which the work or report was made have lapsed or been completed: Provided that he shall not be deemed to commita breach of this paragraph by reason of his answering any questions which he is legally compellable to answer. (2) His charges to his client shall constitute his only remuneration in connection with the work. 7 {Am. PU (A) 9772000} fAm. PU(A) 97/2000),[Am. PU(A) 97/2000) Lins, PU(A) 9772000) fAm. PUA) 9772000] {ins. PU(A) 972000} Am, PU(A) 97/2000] Eins, PU(A) 97/2000} [Am PU(A) 9772000] [Am. PU(A) 97/2000), Ins. PU (A) 97/2000} (3) A registered valuer or appraiser shall not render his services where he is in any doubt as to the adequacy of his professional experience to undertake the work. (4) A registered valuer or appraiser undertaking property management shall maintain on record a clear statement of the scope of responsibility authorised by the client and shall not at any time, except in an emergency, exceed such authority. 64, Registered valuer or appraiser acting as estate agent. (1) A registered valuer or appraiser who acts as an estate fora vendor agent toa transaction should not subsequently value the property concerned for the purchaser. (2) Ifa registered valuer or appraiser in a registered firm has acted as an estate agent for a vendor in a transaction, no other registered valuer or appraiser from that registered firm shall act or be involved in that transaction, 65. Personal interest to be disclosed. (2) A registered valuer or appraiser shall inform his client of the nature of any business connections, interest or other affiliations he may have in connection with the service to the client. (2) A registered valuer or appraiser undertaking property management shall be completely transparent in his relationship with his client and shall disclose all pertinent facts to his client. (3) A registered valuer or appraiser undertaking property management shall not award any contract on behalf of the client if he has arelationship with the contractor or a financial interest in the contract without first making full disclosure of the interest to the client and obtaining the client’s express authorisation to do so in writing. 66, Professional fees. Notwithstanding rule 48, a registered valuer or appraiser may accept in respect of his professional work any fee more than that prescribed for that work by the scale of fees specified in the Seventh Schedule with the written consert of the Board. 67. Fee contingent on result. (1) No registered valuer or appraiser shall charge impose or claim any fee or remuneration for professional work the amount of which is contingent on the findings or the result of such professional work. (2) For the purpose of paragraph (1), the expression “contingent” includes— B eee(a) where the value of property in respect of which the professional work is done has yet to be determined; and (b) where a case in any court or under arbitration, or a dispute affecting the findings or the results of the professional work done, is pending. 68. Payment of commission. No. registered valuer or appraiser shall pay by commission or otherwise any person who may introduce clients to him. 69, Receipt of payment from more than one source. Compensation or payment whether financial or otherwise, may be accepted from more than one sourse in respect of a particular service only f the intention to accept such compensation or payment has been disclosed to all the parties and the written consent of all the parties to such compensation or payment has been obtained by the registered valuer or appraiser in a single document. 70. Participation of others in profits. Noregistered valuer or appraiser shall, directly or indirectly, allow or agree to allow participation by any other person, not being a registered valuer, appraiser or estate agent, in the profits of his professional work 71. Professional work by registered valuer or appraiser in employment. (1) A registered valuer or appraiser in the employment of a valuation firm shall not accept professional work on his own account and shall not be gainfully employed elsewhere. (2) A registered valuer or appraiser shall not, without the prior written approval of the Board, be gainfully employed in activities other than valuation or appraisal work. (3) A registered valuer or appraiser in the employment of a non-valuation firm shall not maintain a valuation or appraisal firm. 72. Criticisms or comments on fellow registered valuer or appraiser. No registered valuer or appraiser shall offer, express or communicate to the public any critism or comment on the professional services or conduct of, or professional fees charged by, a fellow registered valuer or appraiser. 73, Reference to Board of erring registered valuer or appraiser, Every registerd valuer or appraiser shall maintain the high standards of his profession and may referto the Board any act or omission of aregistered valuer or appraiser coming under his notice which may appear to bring discredit to, the profession. 79 [Am. PU(A} 97/2000), Lins, PU(A) 97/2000) [Am. PU(A) 9772000] Tam. PU(A) 97/2000)[Deteted) [Am PU(A) 97/2000} fam. PU(A) 97/2000] [Am, PU(A) 97/2000) (Am. PU(A) 97/2000} [Am. PU(A) 97/2000} fAm. PU(A) 97/2000} 74. Accuracy of statement. No registered valuer or appraiser shall prepare or cretify any statement which is false, incorrect or misleading or open to misconstruction by reason of the misstatement, omission or suppression of a material fact or otherwise. : 75. Valuation reports. (1) When asked for a valuation of real property, or an opinion on a real estate problem, a registered valuer or appraiser shall never given an uncon- sidered answer. (2) His counsel constitutes professional advice which he shall render only after having ascertained and weighed the facts. (3) Where, to complete his report and valuation he is required to obtain professional advice, either on a legal, engineering, architectural or other technical matter, he shail state in his report the contingent conditions on which he is informed as a result of any such report. (4) All valuation reports shall comply with the standards, directives, circulars and guidelines which may be issued by the Board from time to time. 76. Conduct in proceedings before judicial bodies. (1) A registered valuer or appraiser shall not give expert evidence in the courts or before other judicial bodies if he has any financial interest in the proceedings other than proper and reasonable fees payable for such services; even a remote interest shalll be disclosed. (2) Inpreparation for his appearance in court he should make a careful and detailed examination of the property concerned after taking into consideration all relevant factors which might tend to influence the value. (3) His evidence shall be the truth and be given without mental reservation and shall be his honest opinion on the subject. 77. Use of registered valuer’s or appraiser’s name. ‘A registered valuer or appraiser shall carefully guard against the use of his name by, or personal association with, any enterprise or activity of a question able character which may bring the registered valuer or appraiser or the profession into disrepute. 78, Associateship and affiliation. ‘A tegistered valuer or appraiser shall not without the prior written approval of the Board enter into any professional associateship or into any form of professional affiliation with any other person or organisation. 80 mm79, Signature on reports. A registered valuer’s or appraiser's name signature and registration number must appear on any report made by him indicating his status as a registered valuer or appraiser. 80. Offices and branch offices. (1) A registered valuer’s or appraiser's office, including a branch office shall be headed by a resident registered valuer or appraiser unless otherwise allowed by the Board. (2) Incarrying on property management, a registered valuer or appraiser may establish an office within a property for the purpose of managing that property. 81. Liability for offences by firm. (1) A registered valuer or appraiser who is a sole proprietor partner or director of a registered firm carrying on practice as a valuer or appraiser shall be held jointly and severally liable for any contravention of these Rules committed by such firm; Provided that if such sole proprietor, partner or director, as the case may be, shall show that he has prior to such contravention taken all steps as may be reasonable to ensure that such contravention shall not be committed he may be absolved of liability for such contravention. (2) Ifany registered firm does any act that in the case of a person would be an offence under these Rules, the registered firm and every registered valuer, appraiser or estate agent of the registered firm shall be deemed to have committed the offence unless the registered firm or the registered valuer, appraiser or estate agent proves that the offence was committed without it's or is knowledge, consent or connivance or was not attributable to any neglect on it’s or his part. 82. Performance of obligations under the Act and the Rules. (1) Every registered valuer or appraiser shall atall times faithfully observe and perform all his obligations under the Valuers, Appraisers and Estate Agents Act 1981 and any Rules made thereunder: (2) Every registered valuer or appraiser shall at all times comply with every standard, directive circular, guideline and decision of the Board. 81 Tam. PU(A) 97/2000} [Am. PUA) 97/2000}, Ins. PU(A) 97/2000] Am. PU(A) 9772000) (Am. PU(A) 97/2000] Lins. PU(A) 9772000) [Am. PU(A) 97/2000}[Am PU(A) 97/2000] ins. PU(A) 97/2000) PART X CODE OF CONDUCT AND ETHICS (REGISTERED ESTATE AGENTS) 83. Service. The first duty of every registered estate agent is to render service to his client or his employer with absolute uphold the interest of his client and the dignity of his profession fidelity and to practice his profession with devotion to the high ideals of integrity, honour and courtesy, loyalty to his country, and ina spirit of faimess and goodwill to his estate agents fellow employees and subordinates. 84. Conduct of registered estate agent. (1) A registered estate agent shall act towards his client in all professional matters strictly in a fiduciary manner and shall hold as confidential the results and other findings of his work and any report, until released from his obligation by his client, or until the transaction or proceedings for which the work or report was made have lapsed or been completed. (2) A registered estate agent shall refrain from any act that abuses or takes advantage of the confidence reposed in him by his client for his personal benefit or gain (3) The conduct of a registered estate agent in relation to other registered estate agents shall be characterised by candour, courtesy and faimess. Provided that he shall not be deemed to commit a breach of this paragraph by reason of his answering any questions which he is legally compellable to answer, 85. Level of competence. (1) A registered estate agent is expected to provide a level of competent service in keeping with the standards of practice of the Board. (2) A registered estate agent shall refer to the standards of practice as may be prescribed by the Board from time to time as to the degree of competence that a client has a right to expect the registered estate agent to possess taking into consideration the complexity of the problems, the availability of experts assistance and the opportunities for experience available to the registered estate agent. (3) A registered estate agent shall not undertake to provide specialized professional services concerning a type of property or service that is outside his field of competence unless he engages that assistance of one who is competent ‘on such types of property or services, or unless the facts are fully disclosed to the client. Any person engaged to provide such assistance shall be so identified tothe client and his contributions to the assignment should be set forth. 82 Ppt ete as86. Need to keep informed. (1) A registered estate agent should keep himself informed on matters affecting real estate in his area of practice, his state and the country so that he may be able to contribute responsibly to public thinking on such matters, (2) A registered estate agent should keep himself informed regarding laws, proposed legislation, governmental regulations, public policies and current market conditions in order to be in a position to advise his clients properly. 87. Protection of public. (1) Itis the duty of a registered estate agent to protect the public against fraud, misrepresentation, and unethical practices in real estate transactions, He should endeavour to eliminate from his area of practice any practices which could be damaging to the public or which could be against public interest and he should exercise a duty of care so as not to bring discredit to the real estate profession. (2) Aregistered estate agent shall avoid all acts that may mislead his client orthat may misled a party not represented by him in any particular transaction. 88. Personal interest to be disclosed. (1) A registered estate agent shall inform his client of the nature of any business connections, interests or other affiliations he may have in connection with the service to the client. (2) A registered estate agent shall not undertake to provide professional services concerning a property or its value where he has a personal or contemplated interest unless such interest is specifically disclosed to all affected parties. (3) A registered estate agent shall not acquire an interest in or buy for himself, any member of his immediate family, his firm or any entity in which hehas an ownership interest, property listed with him, without making the true position known to the listing owner and in selling property owned by himself, orin which he has any interest, the registered estate agent shall reveal the facts of his ownership or interest (o the purchaser. (4) For the purpose of this rule, “personal interest” includes any interest that the registered estate agent is connected with, whether directly or indi- rectly. 89. Professional fee. (1) Notwithstanding rule 48a registered estate agent may accept of his professional work any fee me than that prescribed for that work by the scale of fees specified in the Seventh Schedule with the written consent of the Board. 83 (Am. PU(A) 97/2000} ns. PU(A) 9772000} fam. PU(A) 972000} Tins. PU (A) 97/2000} (Am. PU(A) 97/2000)Lins. PU(A) 97/2000} [Am PU(A) 9772000}, Am. PU(A) 97/2000] Lins. PU(A) 97/2000} Tins. PU(A) 97/2000) ins. PU(A) 97/2000} [Am. PU(A) 97/2000} (2) A registered estate agent shall not charge or attempt to charge fees ‘on more than one party in any one transaction and such fee shall not exceed the maximum fee specified in the scale of fees specified in the Seventh Schedule. (3) A registered estate agent shall only charge and accept fees specified from the person who appoints him. 90. Rebates or profits. A registered estate agent shall not accept from a third party any commis- sion, fee reward or other consideration on expenditure incurred on behalf of his client without the client's knowledge and written consent. 91. Participation of others in profits. (1) No registered estate agent shall, directly or indirectly, allow or agree to allow participation by any other person, not being a registered valuer, appraiser or estate agent, who is permitted to practice estate agency in the profits of his professional work in agency fees or in commissions. (2) Notwithstanding paragraph (1), a registered estate agent may pay a commission to a member of his staff who is under his control or supervision in the aggregate not exceeding forty percent (40%) of the professional fee in a particular transaction. 92, Financial obligations. (1) Aregistered estate agent shall, for the protection of all parties, see that financial obligations and commitments regarding real estate transactions are in writing expressing the exact agreement of the parties and a copy of each such agreement shall be furnished to each party upon his signing such agreement. (2) Inthe case of co-agency or a conjunctional arrangement, all terms and conditions shall be in writing before the commencement of work. 93. Acting for two parties. (1) A registered estate agent shall not act for one party to a transaction if the other party to the same transaction is represented by another registered estate agent from the same firm. (2) A registered estate agent from a firm shall not act for one party in any one transaction while another registered estate agent from a related, associated or affiliated firm is acting for the other party to the same trans- action except with the knowledge and prior written consent of the parties concerned. 84 ]94. Professional work by registered estate agent in employment, (1) A registered estate agent in employment of an estate agency firm shall not accept professional work on his own account and shall not be gainfully employed elsewhere. (2) A registered estate agent shall not, without the prior written approval of the Board, be gainfully employed in activities other than estate agency work. (3) A registered estate agent in the employment of a non-estate agency firm shall not maintain an estate agency firm, 95. Activities that constitute unauthorised practice of law. A registered estate agent shall not engage in activities that constitute the unauthorised practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it. 96. Seeking unfair advantage over other registered estate agents. (1) A registered estate agent shall not seek unfair advantage over other registered estate agents and shall conduct his business so as to avoid contro- versies with other registered estate agents. (2) A registered estate agent shall not make or participate in any promo- tional offers or give or participate in the giving of any incentives to secure business. (3) No registered estate agent shall claim that his services are better than that of other registered estate agents, whether in those words or in words of like effect, through any form of advertisement. (4) A registered estate agent shall not erect any signboard or other form of advertisement on the client’s property if there is already such a signboard or advertisement on the property unless he has written authorisation from the client to do so. 97. Engaging in practices inconsistent with agency of another registered estate agent. (1) A registered estate agent shall not engage in any practice or take any action inconsistent with the agency of another registered estate agent (2) Ifa registered estate agent has been exclusively appointed by written instructions, as evidenced by a signboard or other form of advertisement in any media referring specifically to the property, no other registered estate agent sball— (a) solicit for the same business; or 85 Ins. PU (A) 97/2000) [Am. PU(A) 97/2000} [Am. PU(A) 97/2000)[Am. PU(A) 97/2000] Lins, PU(A) 97/2000] Am, PU(A) 9772000] [Am. PU(A) 9772000} Lins, PU(A) 9772000} (b) accept instructions in relation to the same property without first obtaining written verification from the first-mentioned registered estate agent that his appointment has been terminated. 98. Soliciting services of employee of another registered estate agent. ‘A registered estate agent shall not directly or indirectly solicit the services or affiliations of an employee in the organisation of another registered estate agent without prior notice to the said registered estate agent. 99, Criticisms on felllow registered estate agents. (1) No registered estate agent shall offer, express or communicate to the public any criticism or comment on the professional services, or conduct of, or professional fees charged by a fellow registered estate agent. (2) A registered estate agent shall not maliciously injure or attempt to injure, whether directly or indirectly, the professional reputation, prospects or business of another registered estate agent. 100. Reference to Board of erring registered estate agents. Every registered estate agent shall maintain the high standards of his profession and may referto the Board any act or omission ofa registered estate agent coming under his notice which may appear to bring discredit to the profession. 101. Accuracy of statements. No registered estate agent shall prepare or certify any statement which is false, incorrect or misleading or open to misconstruction by reason of the misstatement, omission or supression of a material fact or otherwise. 102. Signature on report, ete. (1) A registered estate agent's name signature and registration number shall appear on all proposals, reports and other documentation prepared by him indicating his status as a registered estate agent. (2) Without prejudice to paragraph (1), all reports and documents regarding professional instructions, options, professional advice to a client, offers to sell, purchase or let property, letters of acceptance, professional fees, the commission of negotiators and other professional matters shall require the signature and registration number of the registered estate agent. (3) No person shalll be allowed to represent the registered estate agent in any documentation or correspondence unless itis for administrative purposes only. 86103. Use of registered estate agent’s name. A registered estate agent shall carefully guard against the use of his name by, or personal association with, any enterprise or activity of a questionable character which may bring the registered estate agent o the profession into disrepute. 104, Associateship and affiliation. A registered estate agent shall not without the prior written approval of the Board enter into any professional associateship or into any form of professional affiliation with any other person or organisation. 105. Offices and branch offices. A registered estate agent’s office including a branch office shall be headed by a resident registered estate agent unless otherwise allowed by the Board. 106. Liability for offences by firm. (1) A registered estate agent who is a sole proprietor, partner or director of a registered firm carrying on practice as an estate agent shall be held jointly and severally liable for any contraventions of these Rules committed by such firm: Provided that if such sole proprietor partner or director, as the case may be, shall show that he has prior to such contravention taken all steps as may be reasonable to ensure that such contravention shall not be committed he may be absolved of liability for such contravention. (2) Iany registered firm does any act that in the case of a person would be an offence under these Rules, the registered firm and every registered valuer, appraiser or estate agent of the registered firm shall be deemed to have committed the offence unless the registered firm or the registered valuer, appraiser or estate agent proves that the offence was committed without it’s or his knowledge, consent or connivance or was not attributable to any neglect on it’s or his part. 107. Conduct in proceedings before Board. (1) A registered estate agent charged with unethical practice and required to present evidence in any disciplinary proceeding or investigation shall place all pertinent facts before the Board. (2) A registered estate agent who contravenes paragraph (1) commits an offence and is liable on conviction to a fine not exceeding three thousand ringgit. (3) If a registered estate agent contravenes paragraph (1), every other registered valuer, appraiser or estate agent in the registered firm shall be 87 [Am. PU(A) 97/2000) Am. PU(A) 97/2000] [Am. PU(A) 97/2000} fam. PU(A) 97/2000] Lins. PU (A) 9772000) Am. PU(A) 97/2000) fins, PU(A) 9772000)[Am. PU(A) 97/2000) Tam. PU(A) 97/2000] fAm. PU(A) 9772000) (Am. PU(A) 97/2000] [Am. PU(A) 9772000} [Am. PU(A) 9772000] TA. PU(A) 97/2000 deemed to have committed the offence and shall be liable to the same penalty unless he proves that the offence was committed without his knowledge, consent or connivance or was not attributable to any neglect on his part. 108. Conduct in proceedings before judicial bodies. (1) Aregistered estate agent shall not give expert evidence in the courts or before other judicial bodies if he has any financial interest in the proceedings other than proper and reasonable fees payable for such services; even a remote interest shall be disclosed. (2) His evidence shall be the truth and be given without mental reservation and shall be his honest opinion on the subject. 109, Board to issue standards, directives, circulars and guidelines on real estate agency practice. ‘The Board may from time to time issue standards, directives, circulars and guidelines on real estate agency practice. 110. Performance of obligations under the Act and the Rules. (1) Every registered estate agent shall at all times faithfully observe and perform all his obligations under the Valuers, Appraisers and Estate Agents Act 1981 and any Rules made thereunder. (2) Every registered estate agent shall at all times comply with every standard, directive, circular, guideline and decision of the Board. Part XI ADVERTISEMENTS AND PUBLICITY 111, Matters forbidden in advertisements. (1) Anadvertisement made or to be made by a registered valuer, appraiser or estate agent shall not contain any of the following: (@ an inaccurate or misleading statement of fact; (b) an explicit solicitation of instructions; (c)_ an explicit comparison between the service offered by a firm with that of other firms; (d) a claim by the registered valuer, appraiser or estate agent to be specialising in or to be specialist or expert in any particular aspect of his work; and (e) self-laudatory statements. (2) No advertisement made or to be made by a registered valuer, appraiser or estate agent shall be so designed in respect of wording, content, layout 88illustration caricature or arrangement as to bring the profession into disrepute or to undermine public confidence in the services provided by registered valuers, appraisers or estate agents. 112. Advertisement to promote business. (1) A registered valuer, appraiser or estate agent may with the consent of the Board publish an advertisement the purpose of which is to announce his name or promote his business, in the press or in any publication or in any location unrelated to his actual place of business, (2) A registered valuer, appraiser or estate agent may arrange for a listing in any telephone, business or trade directory. (3) A registered valuer, appraiser or estate agent may publish corporate advertisements on condition that— (@) the advertisement relates strictly to advertising the services offered by the registered valuer, appraiser or estate agent; (b) the advertisement shall only state the services actually provided by the registered valuer, appraiser or estate agent (such as valuation, appraisal, estate agency, property management, project manage- ment, property consultancy, property research, information on the property market and feasibility studies) but shall not include unre- lated services (such as insurance, furniture rental and renovation services) or expand further by claiming to specialise in any one of the services so provided or in any geographical area; (©) the advertisement shall not be laudatory in any manner and shall neither solicit for business nor misrepresent the services provided; @ the advertisement shall not contain any mission statements, slogans, mottos or quotations; and (©) the advertisement shall not contain any information other than the information specified in this rule, whether factual or otherwise. (4) Without prejudice to paragraph (3), an advertisement under that paragraph may contain— (@) the address, telephone number, facsimile number and electronic mail address of the registered firm; and (B) such other information as the Board may approve. (5) Anadvertisement under paragraph (3) may be published in any media, including newspapers, magazines, the electronic media, street maps and billboards, and aired in cinemas (6) A registered valuer, appraiser or estate agent may issue flyers on his estate agency practice on condition that— 89 Lins. PU(A) 9772000)(@) the flyers relate to the relevant property and the contents of the flyer are factual and verifiable; (b) the flyers shall reflect a sufficient degree of professionalism; and (©) the flyers shall not solicit for business. Tins. PU(A) 113.-AdWertisement for staff. 9772000 : f A registered valuer, appraiser or estate agent may advertise for staff in a “Situation Vacant” section in any media, including newspapers, professional publications and the electronic media, on condition that— (a) the advertisement shall only specify the name, address and business of the registered firm, the position that is vacant, the job spe- cifications, the remuneration offered and the qualifications required; (b) the advertisement shall not contain any laudatory statements of the registered firm; and (c) the advertisement shall not contain any mission statements, slogans, mottos or quotations. 114. Printed notices. A registered valuer, appraiser or estate agent may within 3 months publish in the press and circulate notices to his existing clients and other registered valuers, appraisers or estate agents notifying them of his new telephone number, new address, or the opening of a new office, or the fact that a new partner has joined his firm or that a partner has retired. 115, Advertisement of commercial concern. [Am.PU(A) _ Aregistered valuer, appraiser or estate agent shall not allow any reference 972000] to him, or his firm to appear in any advertisement published by a commercial concern except with the consent of the Board. Jins, PU(A) ©9154. Content of advertisements and ep cinvcennesits 97/2000 af (1) Anadvertisement made orto be made by a registered valuer, appraiser or estate agent shall include the following particulars: (@ the registration number of the registered valuer, appraiser or estate agent; (b) the name, address and telephone number of the registered firm, where appropriate; (©) a deseription and the price of the property concerned; and (@ the Board’s logo, where necessary. (2) For the purpose of paragraph (1), only the office telephone number shall be used. 90