Remuneration of licensed valuers
25 Remuneration of licensed valuers
The Commissioner may, with the approval of the Minister, from time to time by notice published in the Government Gazette fix the maximum amounts of remuneration for the various kinds of services rendered by licensed valuers.
The respective maximum amounts fixed under subsection (1) shall have effect on and after the date on which the notice fixing them is published in the Government Gazette or on and after such subsequent date as is specified in that notice.
A licensed valuer, or a firm or corporation of which a licensed valuer is an officer, shall not demand or receive, in respect of any service rendered by the licensed valuer, any remuneration that exceeds in value the amount (if any) for the time being fixed under subsection (1) in respect of a service of that kind.
Penalty for this subsection: a fine of $5 000.
Any remuneration received in contravention of this section may be recovered as a civil debt recoverable summarily in a court of competent jurisdiction.
[Section 25 amended: No. 15 of 1984 s. 6; No. 69 of 2006 s. 19; No. 58 of 2010 s. 31; No. 25 of 2019 s. 37.]
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