Azerbaijan's laws on appraisal activity require renewal (UPDATE)
Details added (first version posted on 14:14)
Baku, Azerbaijan, March 10
By Ilkin Shafiyev – Trend:
Azerbaijan's legislation on appraisal activity needs to be renewed, Acting Chairman of the Azerbaijani Society of Appraisers Nusret Ibrahimov said during an extraordinary electoral conference in Baku on March 10.
He said a relevant bill was submitted to the Azerbaijani parliament back in 2013.
"Today, we need to update standards in the field of assessment, and the relevant legislative framework, the law adopted in 1998, does not meet the required standards," Ibrahimov stressed.
The Azerbaijani Society of Appraisers intends to maintain a registry of individuals and legal entities that are engaged in valuation activity, he added.
In the near future, the Society's budget for 2018 will be approved, and membership fees will be determined.
The Azerbaijani Society of Appraisers was registered in 1997. It is a public organization that unites all appraisers operating in the country.