Section 2

“Appeal Board” means the Appeal Board established under section 28;

*NOTE—Previously known as the Valuers, Appraisers and Estate Agents Act 1981. Change in short title vide section 3

of the Valuers, Appraisers and Estate Agents (Amendment) Act 2017 [Act A1550] which comes into operation on 2

January 2018–see P.U. (B) 605/2017.

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“applicant” means an individual registered valuer, appraiser, estate agent or property manager, or a registered valuation, appraisal, estate agency or property management firm, as the case may be;

“authority to practice” means an authority to practice in the prescribed form issued by the Registrar under section 16;

“Board” means the Board of Valuers, Appraisers, Estate Agents and Property

Managers established under section 9;

“Director General” means the Director General of Valuation and Property

Services appointed under subsection 3(1);

“firm” means a body corporate, a partnership or a sole proprietorship;

“Fund” means the Fund of the Board of Valuers, Appraisers, Estate Agents and Property Managers established under subsection 12(1);

“member” means a member of the Board;

“Minister” means the Minister for the time being charged with the responsibility for finance;

“prescribed” means prescribed by rules made by the Minister or by guidelines, standards, circulars or directives issued by the Board;

“probationary estate agent” means a person who is registered under this Act as a probationary estate agent and whose name has been placed in the Register of Probationers;

“probationary property manager” means a person who is registered under this Act as a probationary property manager and whose name has been placed in the Register of Probationers;

“probationary valuer” means a person who is registered under this Act as a probationary valuer and whose name has been placed in the Register of

Probationers;

Valuers, Appraisers, Estate Agents and Property Managers 9

“property-based business” includes a hotel, motel, hostel, plantation, quarry, marina, port, golf course, cinema, stadium, sports complex and hospital;

“property management” means the management and control of any land, building and any interest in the land or building, excluding the management of property-based businesses, on behalf of the owner for a fee;

“property manager” means a person, a firm or a company who, on behalf of the owner of any land, building and any interest therein, manages and controls such land, building and interest;

“Register” means the Register of Valuers, Appraisers, Estate Agents and

Property Managers kept under paragraph 14(1)(a);

“Register of Firms” means the Register of Firms kept under paragraph 14(1)(c);

“Register of Probationers” means the Register of Probationary Valuers,

Probationary Estate Agents and Probationary Property Managers kept under paragraph 14(1)(b);

“registered appraiser” means a person whose name has been entered under

Part II of the Register and to whom an authority to practice has been issued by the Board under section 16;

“registered estate agent” means a person whose name has been entered under

Part III of the Register and to whom an authority to practice has been issued by the Board under section 16;

“registered property manager” means a person whose name has been entered under Part IV of the Register and to whom an authority to practise has been issued by the Board under section 16;

“registered valuer” means a person whose name has been entered under Part

I of the Register and to whom an authority to practice has been issued by the

Board under section 16;

10 Laws of Malaysia ACT 242

“Registrar” means the Registrar of the Board of Valuers, Appraisers, Estate

Agents and Property Managers appointed under section 15.