Section 17: Valuation of movable property

17. Valuation of movable property (1) Where the Receiver is dissatisfied with the value mentioned in a deed witnessing the transfer of any movable property, he shall assess the value of that property in such manner and by such means as he thinks fit. (2) (a) Where the transferee declines to accept the assessment made by the Receiver under subsection (1), the Receiver shall appoint a person to inspect the property and report to him on its value. (b) The person having the custody or possession of the property shall, under penalty of a fine not exceeding 500 rupees to be imposed by the Receiver, permit the person authorised under paragraph (a) to inspect the property at such reasonable time as the Receiver considers appropriate. (c) The Receiver shall assess the value of the property on the value specified in the report of the person appointed under this subsection and, where the value so assessed exceeds that specified in the deed of transfer, the cost of the inspections and report shall be borne by the transferee. (3) (a) Any transferee dissatisfied with the decision of the Receiver on the report of the person appointed under subsection (2) may, on payment of the duty claimed by the Receiver and not later than 15 days after receiving notice of the Receiver’s decision, appeal to the Assessment Review Committee in accordance with Part IV of the Mauritius Revenue Authority Act against the decision, and the amount of the duty payable shall be determined by the Assessment Review Committee. (b) — (4) Any appeal pending before the Judge in Chambers on the date immediately before the coming into operation of subsection (3) shall, on the coming into operation of that subsection, be transferred to the Assessment Review Committee and shall be dealt with accordingly. [S. 17 amended by s. 27 (13) (b) of Act 33 of 2004 w.e.f. 1 July 2006; s. 4 (k) of Act 4 of 2006 w.e.f. 2 October 2004; s. 25 (d) of Act 15 of 2006 w.e.f. 7 August 2006.] 18. — Sub-Part B – Right of Pre-emption