Welcome to NECSpress, the e-newsletter for the National Electronic Conveyancing System.

In this edition :

  • National Project Team Shaping NECS
  • Have Your Say on Legal Framework and Technical Requirements


National Project Team Shaping NECS


The outcomes of the National Project Team (NPT) meeting on 24 March included agreed positions on a number of important issues in NECS.  This means that the NPT has now reached agreement on the following matters:

1. Digital Signature Certificates (DSC) – the NPT supports the use of Organisation DSCs with prescribed CIV checks on Child Certificate holders
2. Client Identity Verification (CIV) Standard – a purpose built standard should be developed based on current practices in financial institutions under the Anti-Money Laundering legislation
3. Client Authorisation (CA) Template – the form of the  CA has been agreed but may need some refinement when the CIV practice has been finalised
4. Instrument Certification (IC) Wording – the approach to IC was agreed  and wordings generally acceptable subject to final review
5. Mortgage Counterparts – mortgages are to be signed by mortgagees on behalf of both the mortgagee and the mortgagor, with the mortgagee conducting the CIV on the mortgagor and obtaining a CA from the mortgagor
6. Chained Settlements – funds are to be provided to linked transactions by disbursement payments of cleared funds from one linked workspace to the other
7. Fee Payments – fees are to be paid wherever possible by inclusion in settlements and otherwise by direct debit or direct credit/B-pay at the payee’s discretion.

Arriving at an agreed position on these issues constitutes a significant step forward in determining how NECS will operate.

The NPT meets again on 12 May when decisions are expected on how settlement payments will be made to vendors and their nominees and on how documents already signed in NECS will be invalidated and re-signed when something has to be changed.

The papers discussing these issues and the ones already resolved can be found at http://www.necs.gov.au/National-Project-Team/default.aspx.

Have Your Say on Legal Framework and Technical Requirements

Our last NECSpress outlined the independent consultancies progressing several key requirements for NECS.

Legal Framework Development

Clayton Utz has already sent out the first written request for consultation on legal framework issues to key stakeholder groups.  The consultation materials are available from your NPT or SPT representative.

This first stage involves an Environment Review of the roles, responsibilities and relationships as well as the legislative and contractual arrangements in the current paper-based and new electronic conveyancing processes.  Clayton Utz is seeking input on:

1. Key differences in regulation of practitioners and of conveyancing practice among jurisdictions
2. Current conveyancing processes in jurisdictions and the future NECS conveyancing processes 
3. Key issues and challenges in developing an effective legal framework for NECS.

Feedback on this round of consultation is due by 8 April 2009.

Further rounds of consultation will follow regarding the purpose of a legal framework for NECS and the key performance objectives the framework must achieve.

Clayton Utz would appreciate feedback on these rounds of consultation which you can provide either to your NPT representative or by email directly to: dkwong@claytonutz.com or dkreltszheim@claytontuz.com 

Web Services and Non-Functional Requirements

Saratoga Professional Services has been commissioned to define the Web Services and Non-Functional Requirements for NECS.  Definition of the non-functional requirements of NECS is important to ensure the system is secure, convenient and easy for industry to use and is a renewable and sustainable facility.  Similarly, definition of the web services requirements is essential in preparing industry for using NECS. Both these assignments are complementary which means the consultation process will be more efficient.

In order to provide open, public channels for industry participants of all types, sizes and geographic locations to have their opinions heard and taken into account, Saratoga has launched a NECS Stakeholders’ Forum website.  Log on at http://necs.saratoga.net.au and have your say.

Saratoga is also providing a series of public meetings.  The meeting dates and cities are as follows:

1. April 15 in Sydney
2. April 22 in Melbourne
3. April 29 in Brisbane
4. May 6 in Adelaide
5. May 13 in Sydney
6. May 20 in Melbourne

Details of the meeting times, topics and venues will be available at http://necs.saratoga.net.au.

These are opportunities for all industry participants to have their say in key aspects of NECS and ensure its success.

Want to know more?

Please check out the NECS website www.necs.gov.au or contact us at:
Level 2, 10-16 Queen St
Melbourne Vic 3000
Ph: 03 8626 4545
Email:info@necs.gov.au

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