Changing Law on Appraisal Activity in Azerbaijan to freeze amateurs’ activities

Business Materials 20 February 2009 17:43 (UTC +04:00)

Azerbaijan, Baku, Feb. 20 / Trend , U.Ismauilova/

The Azerbaijan Appraisers Society is developing changes and amendments to the Law on Appraisal Activity, the society's Executive Director Elchin Samadli said on Feb. 20.

Samadli said that further development of appraisal activity in Azerbaijan requires improving legislative base.

"After amendments, most of amateurs' will freeze their activity on the market," Samadli said.

The Azerbaijan Appraisers Society was registered in 1997. The society is a public organization which unites all appraisers in Azerbaijan. A total of 80 individuals and 7 companies are members of the Azerbaijan Appraisers Society.

The Law on Appraisal Activity which was adopted in 1995 regulates appraisal activity in Azerbaijan.

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