Cap. 573 Art. 79Estimate costs of experts.   Cap. 12.

(1) Whenever a value needs to be determined under this Act, this shall be done following a valuation made in terms of this article. If the valuation does not meet the precise requirements mentioned in this article, then the valuation shall be deemed to be invalid and hence should be done again.

(2) Every report or valuation made by appointed by the periti competent authority under this Act shall be done in accordance with one of the approved methodologies by the competent authority and in each report or valuation the should indicate which methodology they periti have used to reach their value. During the preparation of the report, periti may seek the aid of other experts in different areas, which aid shall then be indicated in their report.

(3) In any case, either when they are appointed by the competent authority or when they are appointed by the Arbitration Board, the report made by the shall include the following: periti

(a) the date of the valuation;

(b) the date with reference to which the property was valued;

(c) the state which it is calculated that the property was in on the date with reference to which the property was valued;

(d) the use which was being made of the property on the date with reference to which it was valued, including information as to whether the property was at the said time subject to rights of third parties such as emphyteusis, use, usufruct or lease;

(e) the comparable transactions, if any, with reference to which the property was valued;

(f) the restrictions from the scheming in accordance with the local plans and, or other pertinent reasons;

(g) the method which made them reach such valuation; and

(h) the Declaration of the and also other experts periti involved in the valuation, in accordance with the previous sub-article, that they do not have any conflict of interest on the date of valuation;

(4) One report by three appointed by the competent authority periti should always be done when the land to be disposed of by the competent authority has a value exceeding four hundred thousand euro (€400,000).

(5) The fees of the periti appointed externally by the competent authority shall be calculated in accordance with Tariff K of the Code of

Organization and Civil Procedure, provided that the individual fees of each Perit shall not exceed the amount of two thousand and five hundred euro (€2,500) for each report.

(6) The fees of the periti appointed by the competent authority shall be borne by the person who acquired the title over Government land.