Changes relating to the valuation of core property of registered clubs

The NSW registered clubs laws were amended on 1 March 2016 so that the requirements relating to the disposal of core property refer to the term "qualified valuer" rather than "registered valuer". This has happened with the repeal of the Valuers Act 2003.

The change means that one of the requirements clubs need to meet before disposing of core property will be to ensure it has been valued by a qualified valuer. This refers to a person who:

  • has membership of the Australian Valuers Institute (other than associate or student membership), or
  • has membership of the Australian Property Institute (other than student or provisional membership), acquired in connection with his or her occupation as a valuer, or
  • has membership of the Royal Institution of Chartered Surveyors as a chartered valuer.

Exceptions to these requirements for the disposal of core property continue to apply, and are set out in clause 23 of the Registered Clubs Regulation. An equivalent amendment has been made to these exceptions so they also refer to the term "qualified valuer".

The amendments will ensure that clubs intending to dispose of their core property must continue to seek valuations from persons with adequate skills and qualifications to provide such advice.