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

In this edition: 

COAG Agreement on Implementation of NECS

In the last edition of NECSpress  we told you that details of COAG’s implementation plan for NECS would soon be available. The agreement signed by all Australian Governments along implementation plan was published on the COAG website earlier this week.This gives us certainty that all jurisdictions are committed to the national system.

The agreement reached by COAG is for the implementation of NECS to be funded from monies being made available by the Commonwealth to each State and Territory  for a range of initiatives intended to create a seamless national economy. A total of $550 million has been committed by the Commonwealth for all of the initiatives.There is no longer any uncertainty about funding for NECS.

The COAG agreement sets dates by which key aspects of NECS must be implemented  for the States and Territories to secure payments from the Commonwealth.  By the States and Territories continuing to working co-operatively with industry there should be no difficulty meeting the deadlines.

With these commitments and funding arrangements in place, the priority now is to set up the entity needed to run the system in the best interests of all government and industry stakeholders. The National Office is well advanced in co-ordinating definition of the requirements for NECS including the adoption of uniform practices in each jurisdiction that will bring much of the economic benefit of NECS to the consumers of conveyancing services throughout Australia.

NECS is a truly national initiative that now has the formal commitment of the Commonwealth and all of the States and Territories behind it.  The key industry participants such as lawyers, conveyancers and banks can be assured by the COAG agreement that all of the governments in Australia want NECS to become a reality as soon as possible.
 

 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