Section 1018 of The Companies Act No. 17 of 2015: Valuation to be carried out only by qualified valuer
(1) Except as provided by subsection (2), a valuation and report made for the purpose of sections 73, 368 or 374 can be made only by a qualified valuer.
(2) If it appears to the valuer to be reasonable for a valuation of the consideration, or part of it, to be made by (or for the valuer to accept a valuation made by) another person who—
(a) appears to the valuer to have the requisite knowledge and experience to value the consideration or that part of it; and (b) is not an officer or employee of—
(i) the company; or
(ii) any other body corporate that is that company's subsidiary or holding company or a subsidiary of that company's holding company,
or a partner of or employed by any such officer or employee, the valuer may arrange for or accept such a valuation, together with a report that will enable the valuer to make the valuer's own report under this section.
(3) A reference in subsection (2)(b) to an officer or employee does not include an auditor.
(4) If the consideration or part of it is valued by a person other than the value personally, the person shall state that fact in the report and shall specify in the report—
(a) the person's name and what knowledge and experience the person has to carry out the valuation; and
(b) the extent to which the consideration was valued by the person and the method used to value it, and the date of the valuation.
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