Valuers Bill Passes First Reading: A Modern Update to 1948 Act

“The Valuers Bill is an important step forward in ensuring that the regulatory framework surrounding land valuers is not only modern but also efficient,” said Ms Collins.

A new Bill aimed at modernizing and re-enacting the Valuers Act 1948 has passed its first reading in Parliament today. The Bill, introduced by Attorney-General Judith Collins and Minister for Land Information Chris Penk, is part of the Government’s ongoing effort to keep legislation up to date, transparent, and easier to understand.

The primary goal of the Valuers Bill is to rewrite the outdated 1948 legislation, which governs the registration and discipline of land valuers, in more accessible, plain language. The Bill is designed to streamline the current system, improve clarity, and ensure that rules are more user-friendly for both professionals and the public.

“The Valuers Bill is an important step forward in ensuring that the regulatory framework surrounding land valuers is not only modern but also efficient,” said Ms Collins. “By revising the Act, we make it more understandable, helping both land valuers and the public comply with the law more easily.”

The 1948 Act was originally established to create the current framework for the registration of land valuers, set up the Valuers Registration Board, and incorporate the New Zealand Institute of Valuers. While the original Act served its purpose, it became increasingly outdated as the regulatory landscape evolved, making it harder to keep pace with modern standards and expectations.

Mr Penk further emphasized that the Bill not only rewrites the core provisions of the 1948 Act but also introduces operational improvements that align the valuation profession with other occupational regulation Acts. The aim is to provide consistency across various industries and improve regulatory practices.

A notable aspect of the proposed reforms is the introduction of an Amendment Paper, which will address smaller issues within the original Act that cannot be remedied by the main Bill. This includes adjustments to enhance consistency with New Zealand’s broader legal framework, such as the New Zealand Bill of Rights Act 1990 and the Legislation Guidelines.

“By releasing the Amendment Paper alongside the Valuers Bill, we’re giving the public the opportunity to provide feedback on both at the same time. This approach will allow the Primary Production Select Committee to consider the Bill and the Amendment Paper in tandem and ensure a thorough review of all relevant changes,” said Mr Penk.

The government’s move to reform the Valuers Act comes as part of a broader initiative to ensure that all regulatory frameworks in New Zealand remain clear, relevant, and up-to-date. By revising such an important piece of legislation, the Government aims to improve the operation of the valuation profession and provide greater clarity for professionals, landowners, and the wider public.

Public submissions on both the Bill and the Amendment Paper are now open, and the government has encouraged all interested parties, including land valuers, legal professionals, and members of the public, to engage in the process. The submissions will be reviewed by the Primary Production Select Committee, who will consider the proposed changes in full.

The Valuers Bill’s introduction marks an important step in the Government's efforts to modernize legislation, ensuring that New Zealand's legal system continues to serve the needs of its citizens efficiently and effectively. If passed, the Bill will bring about necessary changes to how land valuers operate and will contribute to the broader goal of simplifying New Zealand’s legislative framework.