APIV Exemptions

The API Membership Policy provides that API Members who undertake valuations and hold one of the following certifications must join the APIV and participate in the Scheme unless exempted by the APIV Board:

  • Certified Practising Valuer,
  • Certified Practising Valuer (Plant & Machinery), or
  • Residential Property Valuer.

Being granted an exemption by the APIV, means you are exempt from joining the APIV scheme as you meet specific exemption requirements. (This exemption is only from participating in the scheme or a specific requirement in the scheme, all API membership obligations must still be met (education, CPD, etc.)).

 

What exemption categories are there, and what needs to be completed to be considered for that specific exemption?

Being granted an exemption means an API Member is exempt from participating in the APIV Scheme.

The APIV also has some limited exemption and approval powers in relation to the requirements of the APIV Insurance Standards.

Non-Practising Valuer

The individual retains and maintains their CPV, CPV (P&M) or RPV certification with the API but do not conduct any real property valuations or valuations of plant, machinery and equipment.

Requires – Statutory Declaration

Wording to useI am a non-practising valuer for the purpose of the APIV Professional Standards Scheme and wish to apply for exemption from the requirement under the API Membership Policy to participate in the Scheme).”

100% non-recourse government contracts

Member derives 100% of their income from a Commonwealth / State Government / Local Government contract which includes as a condition of engagement that the professional services are provided on a non-recourse basis.

Requires – Statutory Declaration

Wording to use“I derive 100% of my income from government contracts engaged on a non-recourse basis. On this basis, I wish to apply for exemption from the requirement under the API Membership Policy to participate in the Scheme.”

Evidence required – BAS statement

Authorised Deposit Taking Institution employee

Authorised Deposit Taking Institution employee

The individual is an employee of Authorised Deposit Taking Institution (ADI) and only provides valuation services for the ADIs internal risk/review purposes.

Requires – Requires a signed letter from department head on letterhead.

Government Employee

Member works solely as an employee of the Commonwealth / State Government / Local Government and only provides valuations services for the Commonwealth / State Government / Local Government’s internal purposes.

Requires – Requires a signed letter from department head on letterhead.