The Charter of China Appraisal Society

The Charter of China Appraisal Society

(Adopted by the 2^nd National Assembly of Delegates of CAS on 1^st, August, 1996 and amended by the 3^rd National Assembly of Delegates of CAS on 21^st, July, 2005.)

 

Chapter I. General Provisions

 

Article 1 China Appraisal Society (hereinafter referred to as CAS) is a national institution of self-disciplinary management of the appraisal profession with juridical association qualifications.

Article 2 Missions of CAS are:

·to strengthen professional self-disciplinary management, guide and supervise standardized practices of CAS members;

·to safeguard legitimate rights and interests of CAS members as well as protect the public interests of the society, cater to the needs of CAS members, the appraisal profession and the market economy;

·to assist CAS members in upgrading professional expertise and ethical accomplishments, and elevate public confidence in the profession;

·to coordinate relations within and without the profession, and expand the influence of the profession inside and outside the country;

·to promote sustainable and sound development of the profession in an all-round way. 

Article 3 CAS, in accordance with law, is subject to the guidance and supervision of Ministry of Finance and Ministry of Civil Affairs.

Article 4 Appraisal associations at the levels of provinces, autonomous regions, municipalities directly under the Central Government, and specially designated cities (hereinafter referred to as “local chapters”) are the local organizations of the appraisal profession which are subject to the guidance of CAS.

Article 5 In the light of the actual situation of the profession’s development, CAS may set up professional chapters and establish local dispatch organizations that shall accept the assistance and leadership of CAS. Practice directions for management of these organizations shall be set out in separate regulations.

 

Chapter II. Responsibilities of CAS

 

Article 6 CAS bears the following responsibilities:

(1) formulate development objectives and plans for the profession, and take charge of both organization and implementation;

(2) formulate valuation standards, rules and regulations of self-disciplinary management of the appraisal profession, and take charge of organization, implementation, supervision and inspection;

(3) organize unified national examinations of Certified Public Valuer (CPV) and different specialties;

(4) Take charge of registration of CPVs and enrollment management of CAS members;

(5) Take charge of inspection and supervision of practice qualifications and actual practices of CAS members, conduct verification of practice liabilities of CAS members, implement self-disciplinary punishment on offenders and standardize practice orders of the profession;

(6) organize and carry out research on appraisal theories, approaches and policies, and take charge of education and training of the appraisal profession;

(7) publish journals of CAS, organize the compiling and publication of books and data related to the development of the profession, and promote publicity of the appraisal profession and appraisal specialties;

(8) serve as the channel to reflect and report comments, suggestions and relevant needs of CAS members to the government, all circles of the society and main bodies of the market, and safeguard legitimate rights and interests of CAS members;

(9) provide CAS members with professional technical backup and information service;

(10) coordinate relations within and without the appraisal profession, and improve the exterior environment of professional practices;

(11) carry out international communication on behalf of the profession;

(12) participate in the research and drafting work of laws, statutes, rules and regulations as well as regulatory documents related to the appraisal profession;

(13) facilitate cultural undertakings of the profession and organize the institutional building of the Party in the profession;

(14) guide local chapters, exercise leadership over professional committees of CAS and local dispatch organizations;

(15) handle relevant work stipulated by law and regulations, authorized or entrusted by state organs;

(16) undertake other proceedings that shall be attended to by CAS.

 

Chapter III. CAS Membership

 

Article 7 The membership of CAS is made up of group members and individual members. Group members comprise associate members (including special group members) and liaison group members. Individual members include individual members who are engaged in the profession and those who are not engaged in the profession. Individual members who are engaged in the profession consist of practicing members and assistant members, while individual members who are not engaged in the profession include non-practicing members, liaison individual members and honorary members. Practicing members, non-practicing members and liaison individual members who meet certain requirements are eligible for senior membership.

CAS is in charge of group members and individual members nationwide and may empower local chapters to conduct routine management of both group and individual members within their own jurisdictions.

Article 8 Group membership

(1) Associate group membership: Appraisal firms, ratified and established in accordance with law, shall fulfill registration procedures and become associate group members of CAS since the day they have acquired appraisal qualifications. Associate group members who have acquired securities valuation qualifications in accordance with law or have been validated by CAS are eligible for special group membership.

(2) Liaison group membership: Any unit listed below which recognizes the CAS Charter may apply for the liaison group membership of CAS.

1. appraisal firms in Hong Kong, Macao and Taiwan;

2. units engaged in valuation research and teaching;

3. other social communities, enterprises and public institutions related to the appraisal profession, and other intermediaries.

Article 9 Individual membership

(1) Practicing membership: Practitioners in the appraisal firms who have acquired CPV certificates either by passing examinations or validated by law shall get enrolled as CAS practicing members. CAS, according to different specialties, may divide practicing membership into different categories.

(2) Non-practicing membership: Persons who are not practitioners in the appraisal firms but have acquired CPV certificates either by passing examinations or validated by law may apply for non-practicing membership of CAS.

(3) Assistant Membership: Persons who are practitioners in the appraisal firms but have not acquired CPV certificates may apply for assistant membership of CAS after passing special examinations organized by CAS.

(4) Liaison individual membership: Public figures who are engaged in valuation research and teaching or other work related to the appraisal profession may apply for liaison individual membership of CAS as long as they are willing to get affiliated to CAS.

(5) Senior membership: Practicing members who are eligible for senior membership of CAS with the approval of the Standing Council must be equipped with certain valuation experiences as a full-time professional, achieve fruitful results of academic research, enjoy a higher reputation within the profession, and have made considerable contributions to the appraisal profession. Non-practicing members and liaison individual members who are engaged in valuation management and research as a full-time professional are eligible for senior membership of CAS with the approval of the Standing Council as long as they are equipped with certain experiences in management and research aptitude, and have made outstanding contributions to the development of the profession or to the construction of the professional organizations. Specific requirements and procedures of review and approval of senior membership shall be set out in separate regulations.

(6) Honorary membership: Public figures who have made extraordinary contributions to the appraisal profession, domestic or foreign social personages are eligible for honorary membership of CAS once they are nominated by the standing administrative body of CAS and approved by the Standing Council of CAS.

Article 10 Rights enjoyed by individual members

(1) Practicing members are entitled to the following rights:

1. elect and be elected;

2. require CAS to safeguard their legitimate rights and interests while practicing;

3. make their comments and suggestions about the profession heard by competent departments of the government via the channel of CAS;

4. participate in learning activities and professional training organized by CAS;

5. participate in activities related to professional research and exchanges of experience organized by CAS;

6. take precedence of obtaining data, books and publications from CAS as well as information resources from professional network;

7. to be nominated as commissioner candidates for special committees and professional committees;

8. oversee and put forward suggestions as to the work in the charge of CAS;

9. make statements and lodge appeals concerning self-disciplinary penalties meted out by CAS;

10. quit membership in accordance with relevant provisions.

(2) Assistant members are entitled to the rights other than those prescribed in sub-paragraph 1 and 7 of paragraph (1) under this Article.

(3) Non-practicing members, liaison individual members and honorary members are entitled to the rights other than that prescribed in sub-paragraph 2 of paragraph (1) under this Article.

(4) Senior members are entitled to all the corresponding rights prescribed in paragraph (1) under this Article as well as the rights listed below:

·priority to be recommended as members of international valuation organizations;

·entrusted by CAS, join international academic organizations and participate in their activities on behalf of CAS;

·priority to be nominated as commissioner candidates for special committees and professional committees;

·priority to obtain support from CAS in academic research;

·priority to become members of the think tank of CAS;

·priority to obtain professional books and publications, research data published by CAS.

Article 11 Obligations performed by individual members

(1) Practicing members and assistant members shall perform the following obligations:

1. abide by the CAS Charter;

2. comply with practice standards, criteria and discipline;

3. execute resolutions and systems of CAS;

4. accept the supervision and administration of CAS;

5. maintain solidarity of CAS membership, professional integrity and reputation of CAS;

6. render membership subscriptions in accordance with relevant provisions;

7. accept continuing education in accordance with relevant provisions;

8. undertake or assist in the completion of tasks assigned by CAS.

(2) Non-practicing members shall perform the obligations other than that prescribed in sub-paragraph 2 of paragraph (1) under this Article.

(3) Liaison individual members shall perform the obligations other than those prescribed in sub-paragraph 2 and 7 of paragraph (1) under this Article.

(4) Honorary members shall perform the obligations other than those prescribed in sub-paragraph 2, 6 and 7 of paragraph (1) under this Article.

(5) Senior members shall not only perform the corresponding obligations prescribed in paragraph (1) under this Article, but also are obliged to undertake important assignments and activities arranged by CAS.

Article 12 Associate members are entitled to the rights other than those prescribed in sub-paragraph 1, 4 and 7 of paragraph (1) under Article 10 of this Charter, and in the mean time, assume the obligations other than those prescribed in sub-paragraph 7 of paragraph (1) under Article 11.

Article 13 Liaison group members are entitled to the rights prescribed in sub-paragraph 3, 5, 8, 9, 10 of paragraph (1) under Article 10 of this Charter, and in the mean time, assume the obligations prescribed in sub-paragraph 1, 3, 4, 5, 8 of paragraph (1) under Article 11.

Article 14 Practice directions for managing CAS members are formulated by the standing administrative body of CAS and adopted by the Standing Council of CAS.

 

Chapter IV. National Assembly of Delegates of CAS

 

Article 15 The organization with supreme power in CAS is National Assembly of Delegates of CAS, which is convened every five years. The Assembly may be convened in advance or be postponed if more than one-third of the directors in the CAS Council make such a proposition, which is subsequently voted on and adopted by the CAS Council, reported to competent authorities for examination, and finally ratified and approved by corporate registration management bodies. 

Delegates of National Assembly of Delegates of CAS shall be selected by means of co-option, election or recommendation, and this method for delegate selection shall be approved by the CAS Council.

Article 16 Powers and functions of National Assembly of Delegates of CAS are to

(1)  formulate and amend the CAS Charter;

(2)  discuss and decide on work guidelines and missions of CAS;

(3)  deliberate and adopt work reports of the CAS Council;

(4)  elect members of the CAS Council;

(5)  deliberate and adopt reports on the criteria，income and expenditure of membership subscriptions;

(6)  supplement and recall directors of the CAS Council;

(7)  deliberate other proceedings submitted by the CAS Council to the Assembly for examination and approval.

Article 17 National Assembly of Delegates of CAS must be convened with the attendance of more than half of the delegates, and as such, its resolution must go into effect with the voting and adoption of more than half of the delegates present.

Article 18 When National Assembly of Delegates of CAS is between sessions, the CAS Council shall exercise powers and functions other than those prescribed in paragraph (1), (4) and (5) under Article 16. 

 

Chapter V. CAS Council and the Standing Council

 

Article 19 The CAS Council shall be the executive body of the National Assembly of Delegates of CAS and be held accountable to the Assembly. Members of the CAS Council are selected by the Assembly through election or special invitation. Methods for election and special invitation shall be set out in separate regulations. Members of the CAS Council shall have a five-year term of office and are entitled to be reelected and reappointed. Members who have failed to attend the meetings held by the CAS Council twice in succession without reason shall be disqualified from their membership of the CAS Council.

Article 20  Candidates for the CAS Council membership are selected by means of co-option, election or recommendation, and this method for candidate selection shall be set out in separate regulations.

Article 21 Powers and functions of the CAS Council are to

(1)  propose to convene the National Assembly of Delegates of CAS;

(2)  elect president, vice-president of CAS and administrative directors;

(3)  During the close sessions of the National Assembly, supplement and recall directors of the CAS Council;

(4)  supplement and recall administrative directors;

(5)  elect the leadership of the standing administrative body of CAS;

(6)  deliberate the annual work report of CAS;

(7)  deliberate the annual work report of financial affairs of CAS;

(8)  deliberate and adopt practice directions for managing CAS membership subscriptions;

(9)  discuss and decide on key issues of the appraisal profession;

(10) engage honorary president of CAS and advisers;

(11) assume powers and functions that shall be executed by the CAS Council.

Article 22 The CAS Council meeting is convened annually, and it may be convened in advance or be postponed if more than one-third of the directors in the Standing Council make such a proposition. The CAS Council meeting shall be summoned and presided over by the president. In the event of the absence of the president, the vice president shall be entrusted by the president to convene and chair the meeting.

The CAS Council meeting may as required adopt such means as on-the-spot meeting, long-distance communication and letters. On-the-spot meeting must be convened with the presence of half of the members of the CAS Council, and its resolutions must go into effect with the voting and adoption of a majority vote of the members present. Meetings of the CAS Council convened by means of long-distance communication or letters must require a majority vote of the CAS Council members to adopt the resolutions and let them go into effect.

Article 23 The Standing Council is the standing body of the CAS Council. When the CAS Council is out of session, the Standing Council shall exercise powers and functions of the CAS Council. The Standing Council is composed of president, vice president and administrative directions. Both president and vice president are selected through election, whereas administrative directors by election or special invitation. Methods for election or special invitation shall be set out in separate regulations. President, vice president and administrative directors are vested with the same term of office as members of CAS Council.

Article 24 The Standing Council is convened biannually, and shall be summoned and presided over by the president. In the event of the absence of the president, the vice president shall be entrusted by the president to convene and chair the meeting.

The Standing Council meetings may as required adopt such means as on-the-spot meeting, long-distance communication and letters. The on-the-spot meeting must be convened with the presence of more than half of the administrative directors, and its resolutions must go into effect with the voting and adoption of a majority vote of the administrative directors present. The Standing Council meetings convened by means of long-distance communication or letters must require a majority vote of administrative directors to adopt the resolutions and let them go into effect.

During the close sessions of the CAS Council, in case of the emergence of vital matters that may affect the development of the profession, the interim plenary meeting of the Standing Council may be convened with the proposition made by more than two-thirds of all the administrative directors. The interim plenary meeting of the Standing Council must be convened with the attendance of more than two-thirds of all the administrative directors, and its resolutions must go effect with the voting and adoption of a majority vote of all the administrative directors present.

Article 25 President of the Standing Council shall exercise the following powers and functions:

(1) convene and preside over the working meetings of the CAS Council, the Standing Council and the CAS President;

(2) deliberate relevant documents submitted to the CAS Council and the Standing Council;

(3) supervise and urge the implementation of the CAS Council resolutions;

(4) coordinate the relations between CAS and competent authorities of the government as well as departments concerned.

Vice president shall assist president in carrying out work.

 

Chapter VI. Standing Administrative Body

 

Article 26 Secretariat, the standing administrative body of CAS, shall be responsible for the implementation of resolutions and decisions made at the working meetings of the National Assembly, the CAS Council, the Standing Council, and the CAS President, and undertake the daily routine of CAS. The Secretary-general is held accountable to the Secretariat. 

Article 27 The CAS Secretariat is composed of one secretary-general and several deputy secretaries-general. Both secretary-general and deputy secretaries-general are recommended by Ministry of Finance, selected and approved by the CAS Council through election. The secretary-general is the legal representative of CAS.

Article 28 The secretary-general shall perform the following duties:

(1) organize and implement resolutions made by the National Assembly, the CAS Council and the Standing Council;

(2) take charge of the daily routine of the CAS Secretariat;

(3) introduce plans to set up functional departments of the Secretariat, take charge of personnel management and engage directors of all the departments in the Secretariat;

(4) convene and preside over the meetings held by the CAS secretary-general as well as working meetings of the secretary-general;

(5) take charge of daily management work of assets and financial affairs of CAS;

(6) take charge of the guidance and coordination of secretariats of local chapters;

(7) handle other work assigned by governing authorities and the CAS Council.

The deputy secretaries-general shall assist the secretary-general and be responsible to the secretary-general.

Article 29 With the approval of the Standing Council, the consent of Ministry of Finance after examination, registration at the registration administration body, CAS may set up such dispatch organizations as offices and agencies at provinces, autonomous regions, or municipalities directly under the Central Government that are not suitable for the establishment of local chapters. These dispatch organizations shall serve as the representative body of CAS and bear responsibilities for the self-disciplinary management of the local profession.

 

Chapter VII. Special Committees and Professional Committees

 

Article 30 The CAS Council, in the light of the development needs of the profession, shall establish several special committees and professional committees.

Article 31 Special committees are a special working agency for the CAS Council to perform its duties, whereas professional committees are a professional working agency for the CAS Council to handle professional management as well as technical problems in the course of development of the appraisal profession. Both special and professional committees shall be held accountable to the CAS Council.

Article 32 The Secretariat must introduce plans and submit them to the Standing Council for approval concerning the setup, adjustment, specific powers and functions, operating rules of each special committee and professional committee, as well as qualifications and candidates for the commissaries. Working agencies of all these committees are established at the competent departments of the CAS Secretariat or the entrusted relevant authorities. Each committee, via the Secretariat, may engage experts, scholars and leaders concerned to serve as advisers of special and professional committees.

 

Chapter VIII. Local Chapters

 

Article 33 Local chapters are referred to appraisal societies at the levels of provinces, autonomous regions, municipalities directly under the Central Government, and specially designated cities, and are the local organizations of the appraisal profession. The structural organizations and charters of these local chapters shall be approved by their Local Assembly of Delegates and reported to CAS and local governing authorities for the record.

Article 34 The name list of president, vice president, administrative directors and the secretary-general of local chapters must be reported to CAS for the record.

Article 35 Liaison group members in Hong Kong, Macao and Taiwan regions may organize and establish the regional membership sodality of CAS. Methods for its organization and ways of operation shall be set out in separate regulations.

 

Chapter IX. Rewards and Penalties

 

Article 36 The CAS may mete out rewards or penalties on group members and individual members.

Article 37 CAS members who have made outstanding contributions to the appraisal profession, with the approval of and at the discretion of the Standing Council, may be commended and granted with material rewards.

Article 38 Practicing members and assistant members, who are found to have committed one of the following offenses, shall be punished with warning, criticism by circulating a notice within the profession, public condemnation and disqualification from membership by CAS at its discretion. Associate group members who are found to have committed one of the following offenses shall be punished with warning, a warning order of correction within a specified period, criticism by circulating a notice within the profession, public condemnation and disqualification from membership by CAS at its discretion: 

(1) violate relevant laws and regulations, rules and regulatory documents of the appraisal profession;

(2)  violate valuation standards and practice norms;

(3)  violate codes of ethics and practice discipline;

(4)  violate the provisions of the CAS charter and fail to perform relevant obligations;

(5)  commit other offenses against the discipline that are subject to sanctions.

In the event of any violation of the provisions in paragraph (4) under this Article made by non-practicing members, liaison individual members, honorary members and liaison group members, a warning or disqualification from membership may be imposed on the offenders by CAS, depending on the seriousness of the case.

With respect to individual members who are subject to sanctions such as warning, criticism by circulating a notice within the profession and public condemnation, CAS may execute compulsory training of the offenders. As for associate group members who are subject to sanctions such as warning, a warning order of correction within a specified period, criticism by circulating a notice within the profession and public condemnation, CAS may execute compulsory training of their directors and persons with direct responsibilities.

Article 39 Practicing members who are subject to sanctions such as revocation of CPV certificates or disqualification from membership are not allowed to renew their application for practicing membership within three years. Associate group members whose valuation qualifications are suspended, revoked or withdrawn in accordance with law, shall be disqualified from their associate group membership. In the course of valuation-related work, senior members who are subject to sanctions such as criminal punishment, administrative penalty and professional penalty shall be disqualified from their senior membership.

Article 40 Before deciding on penalties, CAS shall hear presentations by the party concerned. Before deciding on sanctions such as public condemnation and disqualification from membership, CAS shall grant the party concerned the right to require a hearing and shall organize and hold a hearing as required by the party concerned.

Article 41 Members who refuse to accept the decisions on penalty may lodge an appeal in written form according to relevant regulations. CAS shall have a definitive decision on the appeal.

Article 42 A special committee of the CAS Council shall be responsible for handling matters concerning penalties and appeals of CAS members. Specific methods for handling matters concerning the rewards, penalties and appeals of CAS members shall be formulated by the standing administrative body of CAS and approved by the Standing Council.

 

Chapter X. Funds and Assets Management

 

Article 43 Main sources of CAS funds are from

(1) membership fees;

(2) funds appropriated by the government;

(3) financial aids or donations from CAS members and society;

(4) other lawful earnings.

Article 44 CAS members shall perform obligations of paying membership fees.

Article 45 Membership fees are collected annually, and members shall hand in membership fees within a specified time limit and in accordance with specified criteria. In the Practice Directions for Managing CAS Membership Subscriptions, methods for collecting and paying membership fees shall be set out in separate regulations. 

Article 46 Local chapters shall turn in membership fees to CAS within a specified time limit in accordance with the Practice Directions for Managing CAS Membership Subscriptions. Meanwhile, local chapters shall reinforce management and use of the remainder of membership fees, develop both budget plan and final accounts plan for their membership fees, open a separate income and expenditure account of membership fees, and rigidly adhere to the criteria of income and expenditure of membership fees.

Article 47 Membership fees apply to the following areas of expenditure:

(1) miscellaneous expenditure of the working meetings of the National Assembly, the CAS Council, the Standing Council, and the CAS President;

(2) miscellaneous expenditure of the CAS Secretariat, special committees and dispatch organizations;

(3) formulation of valuation standards and practice norms, relevant research and business support;

(4) self-disciplinary supervision and administration, inspection and punishment;

(5) organizing examinations and managing registration;

(6) carrying out domestic and international communication in the appraisal circle;

(7) information and network construction of the appraisal profession;

(8) cultural construction, communication and education of the appraisal profession;

(9) activities initiated by special and professional committees;

(10) safeguarding legitimate rights and interests of CAS members in the course of their professional practice;

(11) providing CAS members with service, professional publications, learning materials and training;

(12) meting out rewards to CAS members;

(13) coordinating the relations inside and outside the profession;

(14) supporting and commending the work of local chapters;

(15) other indispensable expenditure with the approval of the Standing Council.

Article 48 The criteria of membership fees shall be drawn up by the standing administrative body of CAS, adopted by the National Assembly and reported to competent departments for the record.

Article 49 CAS’s own assets shall comply with the financial management system stipulated by the government and are subordinate to the supervision of the National Assembly and financial departments. Assets with the nature of state appropriate funds or donations and aids from society are subordinate to the supervision of auditing bodies of the central government.

Article 50 No unit or individual is allowed to encroach upon, secretly divide and divert for other purposes the CAS assets.

 

Chapter XI. Supplementary Provisions

 

Article 51 The English name of CAS is China Appraisal Society and is abbreviated to CAS. CAS is located in Beijing.

Article 52 The CAS Charter shall be amended by the National Assembly of Delegates of CAS. In the event of the following circumstances, the CAS Charter shall be amended:

(1) Provisions of the Charter have contravened relevant laws and regulations.

(2) The National Assembly of Delegates of CAS has decided to amend the Charter.

(3) More than one-third of all the directors in the CAS Council have put forward suggestions concerning the amendment of the Charter.

The amendment of the Charter shall be voted and adopted by the CAS Council and then submitted to the National Assembly for examination and approval. The amendment shall be passed through with the attendance of more than two-thirds of all the delegates and the adoption of at least a simple majority vote of the delegates present.

Article 53 The termination of CAS shall require that more than two-thirds of all the directors in the CAS Council make such a proposition, which must be adopted by more than two-thirds of all the delegates of the National Assembly and reported to the Ministry of Finance and Ministry of Civil Affairs for approval. Then relevant matters concerning termination of CAS shall be handled in accordance with state stipulations. 

Article 54 The CAS Charter shall go into effect as of the date of adoption by the National Assembly of Delegates of CAS.

Article 55 The CAS Charter shall be reported to Ministry of Finance for approval, Ministry of Civil Affairs for the record, and be interpreted by the Standing Council of CAS.

 

Address: No.28 A, Fucheng Road, Haidian District,

Beijing，PRC  100142

Website: www.cas.org.cn

Tel: 010-88191701