of July 26, 2024 No. 426
About approval of the Regulations on procedure for reviewing of valuation reports of property and property rights
According to article 21 of the Law of the Kyrgyz Republic "About estimative activities", articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:
1. Approve Regulations on procedure for reviewing of valuation reports of property and property rights according to appendix.
2. This resolution becomes effective after seven days from the date of official publication.
Chairman of the Cabinet of Ministers of the Kyrgyz Republic
A. Zhaparov
Appendix
to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of July 26, 2024 No. 426
1. This Provision determines the procedure of carrying out reviewing of the valuation report of property and property rights (further - the valuation report) reviewers based on article 21 of the Law of the Kyrgyz Republic "About estimative activities" and the standards of assessment approved by the order of the Government of the Kyrgyz Republic "About approval of the standards of assessment of property obligatory to application by all subjects of estimative activities in the Kyrgyz Republic" of April 3, 2006 No. 217 (further - standards of assessment).
Reviewing of the valuation report determines compliance of the checked valuation report to the qualifying standards established by the Law of the Kyrgyz Republic "About estimative activities" and standards of assessment.
2. Reviewing of the valuation report is carried out by the appraiser performing estimative activities in the Kyrgyz Republic and being the citizen of the Kyrgyz Republic having experience of practical professional activity in the sphere of estimative activities at least 10 years and the qualification certificate of the appraiser of the highest category issued according to the procedure, determined by the Cabinet of Ministers of the Kyrgyz Republic.
Reviewing of the valuation report is performed by appraisers - members of self-regulatory public organizations of appraisers.
3. Reviewing is made at the expense of the initiating party. In cases of reviewing of the report on the appeal of judicial or investigating authorities payment for reviewing is made by person determined by court or investigating body.
4. In this Provision terms are used in the value given in standards of assessment of property and other regulatory legal acts in the field of estimative activities.
5. Reviewing of the valuation report is performed based on the written address of person using assessment of property and its results for decision making including upon the demand of customers (payers) of assessment, public authorities and local government bodies regarding assessment of the state-owned and municipal property, courts and persons interested in impartial critical consideration of assessment of property, and also on own initiative the subject of estimative activities.
6. The basis for carrying out reviewing of the report is the contract for carrying out reviewing of the report with person who has the right to perform reviewing of the valuation report (further - the reviewer) and the customer of reviewing, and also the court order and investigating bodies about carrying out reviewing of the valuation report.
7. Reviewing of the valuation report is carried out in cases:
- the conclusions of contracts for carrying out reviewing based on statements of customers of assessment or the other persons using results of assessment of object;
- determinations of court about carrying out reviewing of the valuation report;
- resolutions of investigating bodies on carrying out reviewing of the valuation report.
8. For ensuring high-quality carrying out reviewing of the valuation report and creation of conditions for the appeal of judicial and investigating authorities concerning reviewing of the valuation report, the choice of reviewers is performed by self-regulatory public organizations of the appraisers having at least 50 (fifty) appraisers in membership.
9. In cases of the appeal of judicial and investigating authorities to self-regulatory public organization of appraisers about carrying out reviewing, the agreement on carrying out reviewing of the report is signed between self-regulatory public organization of appraisers and the reviewer.
Responsibility for quality of the review of the valuation report is born by the reviewer.
10. When reviewing the valuation report of the objects having strategic importance and/or having difficult production characteristics, the self-regulatory public organization of appraisers can create group of reviewers in quantity to 3 people for commission carrying out reviewing of the valuation report.
11. Reviewing of the valuation report cannot be carried out by the reviewer in cases if the reviewer has valuable interest to assessment object concerning which reviewing is carried out, or the reviewer is founder (cofounder), the owner, the shareholder, the official or the worker of legal person customer of reviewing.
12. When carrying out reviewing of the valuation report the reviewer uses information available to participants of the market on date of assessment.
13. For carrying out reviewing, stipulated in Item 5th this provision, the original of the valuation report which shall be stitched is attached to the written address on carrying out reviewing the subject of estimative activities - the subject which was carrying out assessment or its copy certified by the customer (the responsible person of the customer) with all appendices (is strung together), numbered, ratified.
14. In case of receipt of request from investigating and judicial authorities about holding procedure of reviewing of the valuation report of property reviewing of verified copies of reports is allowed. The amount and contents of the verified copy of the valuation report shall be identical and correspond to the original of the valuation report (descriptive part, settlement part and all appendices).
15. In the course of reviewing the reviewer shall not take into account any additional information about assessment object which appeared after date of creation of the valuation report and conclusion about property value to signature date of the report.
16. Shall be reflected in the review:
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