Dermot Ahern (Louth, Fianna Fail)

It is purely and simply to align ourselves with the internationally recognised definitions contained in the Red Book, which is the book that contains the definitions that surveyors normally follow.

Amendment agreed to.

Government amendment No. 3:

In page 10, subsection (1), to delete lines 28 to 35 and substitute the following:

" "advised market value", in relation to land valued for sale by a licensee, means the licensee's reasonable estimate, at the time of such valuation—

(a) of the amount that would be paid by a willing buyer in an arm's length transaction after proper marketing where both parties act knowledgeably, prudently and without compulsion, or

(b) of the relevant price range within which would fall the amount that would be paid by a willing buyer in an arm's length transaction after proper marketing where both parties act knowledgeably, prudently and without compulsion;".

Amendment agreed to.

Government amendment No. 4:

In page 10, subsection (1), line 42, after "contribution" to insert "(if any)".