According to information from the government, the draft includes clarifications of several standards related to valuation. In particular, new provisions are added to the updated Standard of Basic Concepts and Principles of Valuation, according to which the market value of state property transferred to the investor will be determined taking into account the conditions of the investment agreement, including the composition and scope of rights, as well as the obligations of the parties.
Furthermore, as supplementary information, it will be allowed to use the recommendations of the owner and the cost of the investment project.
The Standard for the Valuation of Real Estate specifies that the appraiser is required to consider the economic impact of the conditions of the investment agreement when determining the value of the assets transferred to the investor as a result of direct negotiations.
The new draft also introduces a requirement in the Standard for the Preparation of the Valuation Report, according to which the report must include data on the composition and scope of rights, the obligations of the parties, as well as calculations of the investor's costs if the valuation is conducted within the framework of the implementation of the investment agreement.
It is important to note that, according to the draft, the consideration of the conditions of the investment agreement does not change the status of the determined value—it remains at the market level and is not classified as investment or non-market.
