1 / 13

DEVELOPMENT OF THE NATIONAL ELECTRONIC CONVEYANCING SYSTEM

DEVELOPMENT OF THE NATIONAL ELECTRONIC CONVEYANCING SYSTEM. A Progress Report By Simon Libbis Executive Director. THE NEED FOR A NATIONAL APPROACH. State based land administration National regulation of major players Commonwealth digital signature standards

dard
Download Presentation

DEVELOPMENT OF THE NATIONAL ELECTRONIC CONVEYANCING SYSTEM

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. DEVELOPMENT OF THE NATIONAL ELECTRONIC CONVEYANCING SYSTEM A Progress Report By Simon Libbis Executive Director

  2. THE NEED FOR A NATIONAL APPROACH • State based land administration • National regulation of major players • Commonwealth digital signature standards • National operations by trading banks • Commonwealth identification protocols • Existing central bank settlement systems • Economies of scale

  3. WHAT IS NECS? Australia’s joint government and industry initiative to create an efficient and convenient way of completing property transactions and lodging land title dealings for registration

  4. WHAT DO WE MEAN? • Electronic business environment for conveyancing • One central system accessible by all States and Territories • One interface for all users (banks, mortgage processors, legal practitioners & conveyancers) • Transparent application of each State and Territory’s registration and duty rules

  5. PROGRESS TO DATE Task 1: Interim governance arrangements - DONE Task 2: Consultation: 2006-2007 Task 3: Thorough risk assessment: Completed Task 4: Independent regulatory review: Completed Task 5: Ongoing governance arrangements: Completed Task 6: Confirmation of NBM: Confirmed

  6. NATIONAL STEERING COMMITTEE Independent Chair ACTRep NT Rep NSW Rep VIC Rep QLD Rep SA Rep WA Rep TAS Rep ABA Reps (2) LCA Reps (2) AIC Rep SRO Reps (2) Broker/ Law Agent Rep NATIONAL OFFICE Directed by National Steering Committee Informed by State Project Teams & National ConsultationForums STATE PROJECT TEAMS NATIONAL CONSULTATION FORUMS ACT NT NSW VIC QLD SA WA TAS System Access & Usage Lodgement Process & Security User ID Accreditation & Training Settlement Process & Payments GOVERNANCE ARRANGEMENTS

  7. PROGRESS REPORT ON NATIONAL CONSULTATION Key Outcomes • Unanimous support for NECS • National Business Model sound • VOI procedures the most significant issue • Much still to be explained, explored and resolved

  8. INDEPENDENT CONSULTANCIES • Risk Assessment – involving risk mitigation measures, risk transfers and liability insurance • Governance - NECS should be a body corporate owned by the jurisdiction governments • Regulatory Review – no regulatory impediment to NECS proceeding

  9. Settlement FinancialInstitutions Enabled Subscriber N E C S FSM RBA Preparation Client Subscriber NECS Browser Interface LSP Browser Interfaces NECS Web Services LSP LSP Web Services NECS Web Services Client Enabled Subscriber Compliance & Lodgment User RO1 User LR1 RO2 LR2 User User NATIONAL BUSINESS MODEL

  10. NEXT STEPS Developing the National Roadmap • Republishing Roadmap Documents: June 2007 • Refining Funding Model: June 2007 • NECS Requirements Definition: July 2007 • NECS Solution Architecture: September 2007 • National Implementation Plan: September 2007

  11. NEXT STEPS (Cont’d) Development of NECS Data Standards Jurisdiction Readiness Plans Establishing NECS Ltd Participation Rules and Legal Framework Financial Settlement Rules and Arrangements

  12. 24 Mths 36 Mths 48 Mths 12 Mths • Setting-Up • governance • model confirmation • commercial viability • detailed planning • Building the NECS • - specifying • provisioning • testing • commissioning • Readying Jurisdictions • legislation, policy, system and practice changes Engaging & Converting Users - communication, education, training and support IMPLEMENTATION STRATEGY

  13. THANK YOU For more information on this presentation or any aspect of National Electronic Conveyancing, please contact Simon Libbis - Executive Director, National Electronic Conveyancing Office at: Tel: 03 8626 4545 Email: simon.libbis@necs.gov.au Web: www.necs.gov.au

More Related