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As enacted
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Section 22

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Schedule B of the principal enactment is hereby repealed and the following Schedule substituted therefor:-

“ SCHEDULE B

[Section 7]

(1)

A person shall be eligible to be enrolled as a Fellow Member:–

(a)

if he has served a minimum of fi fteen years in the grade of Professional Associate Member and is in the profession of valuation in accordance the scheme of assessment of professional competence or any other requirement for continuous professional development determined under section 5:

Provided that the members who were Corporate Members on the fourteenth day of February, Two Thousand and

Three are exempted from the scheme of assessment of professional competence or any other requirement for continuous professional development as aforesaid; or

(b)

if he has acquired such knowledge of valuation and eminence in the profession that, in the opinion of the Council, his admission as a Fellow Member would promote the interests of the profession.

(2)

A person shall be eligible to be enrolled as a Professional Associate

Member:–

(a)

if he has passed the Final or the Direct Final Examination of the Institute or the B.Sc Degree in Estate Management of the

Replacement of Schedule

B of the principal enactment.

Act, No. 9 of 2019

University of London or the University of Reading or any

University of Sri Lanka recognized by the Council or has passed the B.A Degree in Land Economy of the University of

Cambridge or has passed the Final Examination of the Royal

Institution of Chartered Surveyors in the General Practice

Division, or has obtained the Higher National Diploma in

Valuation of the Sri Lanka Technical College or has obtained any other relevant qualifi cation recognized by the Council as equivalent to these examinations; and

(b)

if he is a Probationary Member with a minimum of two years post qualifying full time experience in the profession of valuation practice monitored as directed by and acceptable to the Council; or

(c)

if he is a Probationary Member with post qualifying experience in the profession of valuation, monitored as directed by and acceptable to the Council, for a minimum number of years of part time experience considered as equivalent to two years full time experience and further is in the profession of valuation in accordance the scheme of assessment of professional competence or any other requirement for continuous professional development determined under section 5;or

(d)

if he has minimum of four years full time experience in teaching the subject of valuation in a Course recognized by the Council, in any University.

(3)

A person shall be eligible to be enrolled as a Licentiate

Member:–

(a)

if he is over 30 years of age; and

(b)

if he has practiced as a Valuer for not less than seven years prior to January 3, 1977 and possesses a certifi cate of competence awarded by the Council.

(4)

A person shall be eligible to be enrolled as a Probationary

Member:–

(a)

if he has successfully completed a Degree or Diploma Course recognized for admission to the grade of Professional Associate

Member as specifi ed in paragraph (2)(a) of this Schedule; and

(b)

if he is in the profession of valuation in accordance with the scheme of assessment of professional competence or any

Act, No. 9 of 2019

other requirement for continuous professional development, determined under section 5.

The maximum period during which a person may remain a Probationary

Member shall be ten years.

(5)

A person shall be eligible to be enrolled as a Student Member–

(a)

if he is over eighteen years of age; and

(b)

if he is registered in an educational institution recognized by the Council, as a Student following an internal or external, full time or part time, Degree or Diploma Course as the case may be, leading to qualifi cations recognized for admission to the grade of Professional Associate Member as specifi ed in paragraph (2) (a) of this Schedule.

The maximum period during which a person may remain a Student

Member shall be ten years.”.

Read on from s 23