13E. Land and buildings

A Service Company shall value any land or building at its estimated market value.

In estimating the market value of any land or building, the Service Company shall take into account —

the last available valuation report made by a qualified property valuer;

the prevailing market for the land or building; and

any damage or improvement affecting the land or building from the date of the last available valuation report.

A Service Company shall obtain a new valuation from a qualified property valuer —

when the value of the land or building has been substantially impaired by any event; and

in any event, at least once every 3 years.

A Service Company shall value any land or building at its estimated market value.

In estimating the market value of any land or building, the Service Company shall take into account —

the last available valuation report made by a qualified property valuer;

the prevailing market for the land or building; and

any damage or improvement affecting the land or building from the date of the last available valuation report.

A Service Company shall obtain a new valuation from a qualified property valuer —

when the value of the land or building has been substantially impaired by any event; and

in any event, at least once every 3 years.