With the decision of the Capital Markets Board dated 11.04.2019 numbered 21/500, the regulation regarding ”principles to be complied with in the valuations of assets other than Real Estate within the scope of Capital Market legislation” was made and announced to the public with the Capital Markets Board Bulletin dated 11.04.2019.
According to this decision, in order to fulfill the valuation service of machinery and equipment within the scope of the capital market legislation of real estate valuation institutions authorized by the real estate valuation activity in the capital market in accordance with the provisions of the Communiqué Regarding the Companies to Provide Real Estate Valuation Services within the Framework of the Capital Market Legislation and the Listing of these Companies by the Board.
Within the framework of the Board's regulations on licensing, full-time employment of at least 1 person who has at least one of the "Real Estate Valuation License", "Capital Market Activities Level 3 License" or "Derivative Instruments License" and who graduated from the 4-year mechanical engineering department of universities is obligatory for this person (s) to perform the valuation activities of the machinery and equipment.
It is necessary to get opinions from experts who are experts in the relevant machinery and equipment, which will increase the accuracy and adequacy of the valuation report that will support the valuation study in the valuation activities carried out in relation to the machinery and equipment that require special expertise and experience.
The decision on whether the machinery and equipment in question requires special expertise is made by the relevant real estate appraisal firm, the independent audit firm, the consultancy company, the brokerage firm or the development and investment bank.
The adequacy and appropriateness of the expert opinion included in the valuation reports prepared are the responsibility of the real estate appraisal firm independent audit firm consultancy company intermediary institution or development and investment banks, along with the person performing the valuation.
The Board Decision of the Capital Markets Board dated 11.04.2019 and numbered 21/500 can be accessed here.