12. Occupier assisted valuation
The Principal Act is amended by inserting after Part 5 the following:
"Part 5A Occupier Assisted Valuation
In this Part ‘accurate’, in relation to a valuation, means a valuation that correctly estimates the net annual value of the property concerned.
26B. Regulations may provide for occupier assisted valuation
(1) The Minister may make regulations providing for the carrying out of the valuation, or the taking of one or more of the steps that comprise such valuation, of relevant properties under this Act within one or more rating authority areas by the occupier of each property concerned and the procedure to be followed for those purposes.
(2) Without prejudice to the generality of subsection (1), regulations under this section may provide for any or all of the following:
(a) the issuing of guidelines by the Commissioner to the occupier regarding submission of valuations (including submission by electronic means) and other matters under this Part;
(b) the notice to be sent to the occupier regarding the requirements under such regulations;
(c) the submission by the occupier to the Commissioner of such particulars of the relevant property as the Commissioner considers appropriate;
(d) the submission by the occupier to the Commissioner of his or her valuation in respect of his or her property;