LEGAL BASES OF SELF-REGULATION OF VALUATION ACTIVITY IN THE REPUBLIC OF KAZAKHSTAN

Abstract

Valuation activity is a necessary tool of market policy and a full-fledged economic institution. The legal regulation of this type of activity in Kazakhstan is characterized by a gradual transition from public-legal methods of management (state regulation) to private-legal (self-regulation). The present study is aimed at identifying theoretical aspects and establishing a system of legal norms regulating the institute of self-regulation of valuation activities in Kazakhstan. The article provides a retrospective analysis of the formation of the national system of its normative regulation. It is established that the activity of appraisers has received its legal consolidation in 1995 with the formation of appraisal entities, later, in 2000, the system of regulation was built in the Law of the Republic of Kazakhstan «On Valuation Activities in the Republic of Kazakhstan», and in 2018 its new edition was adopted.

Taking into account the features of valuation activity, in theory they tend to use alternative ways of its regulation. However, initially domestic regulation was focused on the level of authorities (licensing, state control). Later, elements of professional self-regulation began to be introduced: mandatory professional liability insurance and membership in the chamber of appraisers were introduced. Officially, the institute of self-regulation of valuation activity was fixed in the new version of the law, when the licensing procedure for entering the profession was replaced by intra-organizational qualification assignment, and the chambers of appraisers received regulatory and control functions. The study also revealed a legal conflict regarding the legal status of the appraiser, since there is a legislative gap in the attribution of valuation activities to entrepreneurial activity.

The main result of this research is the establishment of theoretical approaches to understanding the peculiarities of regulation of relations in the field of appraisal, identification of the sequence of changes in national legislation on the way to full regulation of the mechanism of self-regulation of valuation activities, detection of shortcomings of its legal regulation, as well as the development of proposals to eliminate them.