Valuer C [2010] NZVRB 9
A complaint was received by the New Zealand Institute of Valuers against Valuer C. The complaint arose from the sale of Valuer C’s valuation business to Company 1. It was alleged that Valuer C was undertaking work on their own behalf, while working as a full-time employee of Company 1. This being considered by the complainant as a breach of the Code of Ethics and Rules of Conduct. The investigation was carried out by Mr KE Parker on behalf of the New Zealand Institute of Valuers. One of the documents supplied in the course of the investigation was the Agreement for Sale and Purchase of the business, which included a Restraint Of Trade Clause to the effect that should Valuer C leave the employment of Company 1, they would not seek employment with, nor set up a competing business, which has the core nature of being a valuation business, with the same or similar services which are offered by Company 1