2007 saw considerable progress on a number of activities that will help shape the National Electronic Conveyancing System This will feed into the strategy for the implementation of NECS.
1. National Business Model
At its meeting on 30 March 2007 and again on 29 June 2007, the National Steering Committee decided to endorse:
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The National Business Model as the basis for national electronic conveyancing.
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Progressing the work to develop the detail of what is required as quickly as possible.
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The updating and republishing of the Roadmap documents with the relevant findings and recommendations of the independent consultants’ reports on risk, governance and regulation and national consultation.
2. State Project Team
The key function of the SPT is to assist in the task of jurisdiction readiness for NECS and to provide advice and assistance to NECOin developing NECS. It has met on several occasions (link to states and territories). In December 2007 it agreed draft principles in relation to business processes for client identity verification, client authorisation and instrument certification. These principles will be used as a basis for development of the underlying business practices.
3. Australian Government Involvement
At its meeting on 23 November 2007, the NSC accepted a request by the Australian Government to become a member of the NSC. Richard Glenn, who was the Australian Government observer at NSC meetings, is now the Australian Government representative. The NSC looks forward to the positive involvement of the Australian Government.
4. Consultation and Consultancies
The consultancies commissioned by the National Office in relation to risk, regulatory matters and ongoing governance were completed in March 2007. These findings, together with a progress report on the extensive consultation we have conducted are being used to refine the NBM and assist with the development of business practices.
5. Legal Framework and Governance Principles
In line with the input from the consultation and consultancies, discussion papers on draft legal framework and governance principles have been prepared. These documents are currently with the jurisdictions for feedback and will then be made available for other stakeholder comment.
6. NECS Requirements Definition
A draft document to define the requirements for NECS has been prepared. This document is intended to provide descriptions from a business perspective of the functional and non-functional requirements expected in the NECS as a definition of the system’s scope, environment and operating capability. It is not a systems specification but its purpose is to facilitate a common understanding among stakeholders and participants in the conveyancing and mortgage industries of what NECS will deliver.
This document is currently being considered by the jurisdictions and then input from all stakeholders will be sought.
7. NECS Data Standards
In May 2007, NECS entered into an agreement with LIXI Ltd, a not for profit company which is developing data standards for the lending and mortgage industry, to develop data standards for national electronic conveyancing. National standards are critical to NECS as this will assist in the development of a truly national system that allows all the jurisdictions to talk to one another without changing their back end systems as well as building on standards used within the mortgage industry. Currently, NSW, Tasmania, SA, NT and WA have signed the LIXI agreement and these jurisdictions are actively involved in the NECS Data Standards Working Group. The Working Group is making good progress on its first task of developing data standards for mortgages, discharges and transfers to allow lodgement and registration