The process of valuation is been implemented to know the true value of the property. If the true value of the property is known to the buyer of the property the finance can be utilise in the accurate manner. She said that the Commission agreed that Mr Ls information requests could be broadly seen to fall into the three categories outlined in the statement of complaint (paragraph 5.5). She said that the Policy and Legal Department believed that they had replied to all of Mr Ls requests regarding rules.
Procedures and legislation although she admitted that, at any given time, there were likely to be a number of such requests outstanding given the volume and frequency of the correspondence received from him. The Director said that the Commission had needed to confirm with the intervenors for the Law Society the exact status and terms of the intervention in Company X before they could judge the most appropriate way to deal with Mr Ls requests relating to specific cases and former clients.
The flow of finance can be go in positive manner. Wastage of finance can be controlled through the valuation process. The ratio of saving can be increases if the user do use the process of valuation. When the finance is to utilised in efficient and proper manner then the user do feel satisfy with the process of valuation by Sydney Property Valuers. indeed, until the status of the intervention had been fully established (which was not until 15 June 2001), the Commission were not sure if it was appropriate for them to deal direct with Mr L or only the intervenors.
The Director added that much of the information regarding specific cases and former clients would have been more easily available to Mr L had he put arrangements in place for the winding down of his firm before he left the United Kingdom. The Director said that it was now entirely clear that the intervenors were not prepared to assist Mr L in the provision of documents and that, in general, successor firms were not prepared to help him either.