eConveyancing News - July 2019

July 16, 2019

Update on current independent eConveyancing reviews

IPART review on pricing regulation for electronic conveyancing services 

IPART's draft report will be available for consultation in August; and they will hold a public hearing in September. In the meantime, for the financial year 2019-20, increase in ELNO costs are capped at CPI.

 

Interoperability industry working groups

Later this month, Dr Rob Nicholls, the independent chair of industry working groups, will release his report on the review of technical and regulatory issues for interoperability between ELNOs and propose a way forward. We look forward to continuing to work with industry and other jurisdictions to reach a timely and effective solution. Please let us knowif you have any queries about interoperability.

 

Review of the Intergovernmental Agreement (IGA) on eConveyancing

The IGA review has a broader remit and looks at the overall eConveyancing regime. The IGA Review team (Dench McClean Carlson, DMC) is writing the final report, with follow-up targeted consultations in the coming weeks to understand any remaining issues with industry and to clarify potential roles with other regulators. The DMC team received responses from 19 stakeholders. If you have any questions, please contact Anne Larkins on 0419 373 096 (alarkins@dmcca.com.au) or Cameron Geddes on 0417 653 118 (cgeddes@dmcca.com.au).

Sympli receives regulatory approval to operate in NSW

On 1 July 2019, NSW Government granted approval for Sympli to operate in NSW. A copy the approval and the conditions of approval, are available on the ORG website. This approval is an important milestone for Sympli becoming operational in NSW. Sympli is scheduled to release their first set of documents later this month, with other releases through the rest of the year.

In NSW, all ELNOs must comply with a set of 'general conditions' (these are at Schedule 1 of the ELNO approval). NSW LRS supplement these with 'special conditions', which tailor the general conditions to the specific circumstances of the ELNO (these are at Schedule 2 of the ELNO approval). These conditions are published so that industry is aware of ELNOs' obligations for operating in NSW.

 

ORG eConveyancing resources

Please find resources and further information to support your transition to eConveyancing:

If you need help, please contact

 

Land title system news

Off-the-plan discussion paper

ORG has published a discussion paper seeking feedback on new regulations to support off-the-plan reforms. A consultation draft of the Conveyancing (Sale of Land) Amendment Regulation 2019 has also been released. The proposed Regulation deals with:

  • a new form of disclosure statement and additional disclosure documents to be attached to off-the-plan contracts;
  • remedies where the vendor has not met new disclosure obligations;
  • the alternative remedy of compensation where changes have rendered the disclosure statement inaccurate as to a material particular;
  • guidance as to what constitutes a 'material particular';
  • a new form of prescribed warning statement to reflect the extension of cooling off periods for off-the-plan contracts to 10 business days (from 5 business days, for other residential transactions).

Submissions close on 24 July 2019.

 

Regulatory Impact Statement - Draft Real Property Regulation 2019

ORG has released a Regulatory Impact Statement (RIS) and draft Real Property Regulation 2019. The RIS sets out in full the details of the proposed amendments as well as a cost and benefit assessment of the proposed amendments. The Regulation will be finalised and published on the NSW Legislation website to enable it to commence on 1 September 2019.
 

New Historical Land Records Viewer

It's now easier to access important historical documents about NSW. Last week, NSW LRS launched the improved Historical Land Records Viewer (HLRV). The new system features is being able to zoom into records to see all the detail - even with intricacies of handwritten notes, in pencil, crayon etc. We know it's important for historians and other customers to be able to print records - and the new system has functionality that permits printing of those records that are available for free.

More than 6 million digital records from 62 collections are now available on the HLRV. Over the past months, a number of important records have been digitised - these include:

  • General Register of Deeds,
  • Change of Name Indexes,
  • Conditional Purchase Indexes,
  • Deposited Deed Indexes,
  • Deposited Deed Receipt Books,
  • Detail Survey Sheet Indexes,
  • Primary Application Miscellaneous Search Books,
  • Primary Application Search Books,
  • Primary Application Search Sketches, and
  • Early Deposited Plans.

 

Disclaimer: The information herein has been prepared by SAI Global Property Division Pty Ltd ACN 089 586 872 from information released by the Authority cited on this page. It is provided as general background information only; it is not complete; and it does not comprehensively address this subject matter. Readers should not consider the information so provided as advice nor as a recommendation to take any particular course of action. Persons needing advice should consult their own solicitor, accountant or other professional adviser.

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