Section 9Sec./Art. 9

Creation of Central Consultative Committee. -

(a) A Central Consultative Committee shall be created and shall serve as the forum on matters pertaining to the setting and adoption of international valuation standards and other related concerns on real property valuation.

(b) It shall be chaired by the head of the BLGF and shall be composed of a representative from each of the following:

(1) Bureau of Internal Revenue (BIR);

(2) Department of Environment and Natural Resources (DENR);

(3) Bangko Sentral ng Pilipinas (BSP);

(4) National organization of government assessors;

(5) Union of Local Authorities of the Philippines (ULAP);

(6) Land Registration Authority (LRA);

(7) Private appraisal sector; and

(8) Real estate sector:

Provided, That members of the Central Consultative Committee, or their representatives, shall be entitled to receive a per diem, pursuant to existing laws, regulations, and other issuances: Provided, further, That the representative from the private appraisal sector has been in the active practice as a real estate appraiser for at least five (5) years prior to his or her appointment as a member of the Central Consultative Committee, as certified by the Professional Regulatory Board of Real Estate Service (PRBRES): Provided, furthermore, That the representatives of the BIR, DENR and BSP must be performing valuation-related functions: Provided, finally, That the national organization of government assessors, the private appraisal sector, and the real estate sector shall be represented by their respective heads of organizations or their duly authorized and qualified representatives.

(c) The Central Consultative Committee shall meet upon the call of the Chairperson, and with due notice to the members, at least once every semester and shall have as many meetings as the Chairperson may deem necessary for the adoption of valuation standards. The Chairperson may invite resource persons on issues concerning real property valuation. The Central Consultative Committee shall ensure that there will be equal opportunity for the participation of public and private sector representatives as resource persons.

(d) The BLGF shall serve as the Secretariat of the Central Consultative Committee.

CHAPTER 2

BLGF REGIONAL OPERATIONS