On 18 May 2026, the Professional Standards Council of Victoria, acting in conjunction with the Professional Standards Council of each jurisdiction in which the scheme is intended to operate, approved an application from the Australian Property Institute Valuers Limited (APIV) for a professional standards scheme.
The scheme is intended to commence in Victoria on 1 September 2026 and remain in force for a period of 5 years (unless extended) and, likewise, in all other states and territories by way of mutual recognition. This is the fourth scheme approved for APIV.
In approving the scheme, the Councils had regard to the matters set out in section 11 of the Professional Standards Act 2003 (Vic), including:
- all comments and submissions provided to the Councils in response to public notification of the scheme
- the position of persons who may be affected by limiting the occupational liability of members of the APIV
- the nature and level of claims relating to occupational liability made against members of the APIV
- the risk management strategies of the APIV, and the means by which those strategies are intended to be implemented
- the cost and availability of insurance against occupational liability for members of the APIV
- the standards determined by the APIV in respect of insurance policies for members, and
- the provisions in the scheme for the making and determination of complaints, and the imposition and enforcement of disciplinary measures against, members of the APIV.
The Council considers that it is appropriate for participants in the APIV scheme, and the clients they serve, to receive the benefits of a professional standards scheme. These include improving professional standards and placing downward pressure on insurance costs, through effective risk management, continuing professional development, and complaints and disciplinary systems.
The Council would like to thank those who provided comments, made a submission and/or completed the Have Your Say survey during the public notification of the scheme.