NECSpress Issue 12 - 15 November 2006 - National Electronic Conveyancing System

Welcome to NECSpress, the e-newsletter for the National Electronic Conveyancing System. In this edition: NECS Industry Discussions Presentation at the Standing Committee of Attorneys - General Independent Consultants - Analysis Forum Focus Topics: Licensed Service Providers and Workspace Population
NECS Industry Discussions The NECS Industry Discussions held around the country have been well attended with representation from a wide range of industry groups. The discussions were most valuable and provided good feedback on industry issues. The independent consultants provided overviews of their work and their presentations stimulated further consideration of the issues involved in the implementation of electronic conveyancing nationally.
Presentation to the Standing Committee of Attorneys-General (SCAG) On 9 November the Executive Director of the National Office, Simon Libbis, provided a briefing to the meeting of all Australian Attorneys-General in Fremantle. He was introduced by Federal Attorney-General, the Hon Phillip Ruddock, who expressed strong support for the national approach to electronic conveyancing. Mr Ruddock encouraged all jurisdictions to continue their active involvement in the national initiative as it has the potential to deliver significant benefits to industry, government and the community. Please click here to view presentation Please click here to view the Attorney-General’s press release
Independent Consultants - Analysis As announced in the September NECSpress, consultants have been commissioned to provide independent analysis of the following issues: Ongoing Governance – Dench McClean Carlson Regulatory Review – Gilbert & Tobin and Allen Consulting Group Risk Assessment – Clayton Utz Further information about these reviews can be found on our website at www.necs.gov.au/progress/Expert Advice The consultants have been engaging in an extensive consultation process with industry and government stakeholders. They would be happy to hear from you if you would like to provide any feedback. The following documents in relation to the Risk Assessment can be found on our website: NECS draft Full List of Risks - First Consultation NECS draft Risk Register - First Consultation NECS Risk Assessment - First Consultation Package Any comment you have on these should be sent to msneddon@claytonutz.com or pharman@claytonutz.com.
Forum Focus Topics: Licensed Service Providers and Workspace Population
Licensed Service Providers Licensed Service Providers (LSPs) offer Subscribers tailored services for convenient access to the NECS. LSPs are able to offer Subscribers: User training including refresher training User support including technical support for differing equipment configurations NECS access integrated with other search and transaction services used in the conveyancing and mortgage industries Systems integration services for users of in-house and proprietary case management and documentation systems. LSPs connect to the NECS using web services provided by the NECS. LSPs are able to offer their customers Internet browser and/or web services connections to their services. They are able to market their services as including integrated access to the NECS and user support, and are expected to be a key contributor to industry take-up of the NECS. Subscribers using LSP services to access the NECS are billed by the NECS at wholesale user fee rates taking into account the service and support provided by the LSP instead of the NECS. Those Subscribers are also billed by the LSP under terms agreed with the LSP. The NECS Operations Description proposes that LSPs be licensed by the NECS to offer services in every jurisdiction. Land Registries are in discussion on this. To become licensed, applicants will required to satisfy specific technical, operational, security and financial criteria. Subscribers are not bound in any way to access the NECS using an LSP and those choosing to use an LSP may also maintain a direct connection to the NECS for back-up purposes. References: National Business Model v9 130706 Sections 8.6 and 9.5 (Pages 13 and 16) NECS Operations Description v5 130706 Section 9.2.1 (Page 30)
Workspace Population Each transaction has its own workspace in the NECS. Workspaces are populated with information by: The Land Registry where the title for the land is held The Subscribers (or Users on their behalf) representing the various parties to the transaction. When a User requests the creation of a new workspace, the system asks for a number of preliminary questions to be answered, including: Which jurisdiction the land to be dealt with is located in The title reference of the land The nature of the transaction intended (eg lodgment, settlement, instruments required, etc) The role of the Subscriber’s Client in the transaction. With this information, the system configures a basic workspace and populates it with information retrieved from the relevant Land Registry’s title register, such as the name of the registered proprietor and any registered mortgages or other interests and any recorded notices such as caveats and writs. The workspace is given a unique identifying number by the system and its content is determined by: The nature of the transaction The number and type of instruments required The Land Registry’s data requirements for each instrument Any additional data requirements for the jurisdiction’s Revenue Office and/or valuation and rating authorities. Workspaces, once created and populated from a title register, are completed by the various Subscribers representing parties to the transaction with additional information, such as the purchaser’s name, any new mortgages, amounts to be paid from a settlement and account details for the receipt of monies in a settlement, using a combination of: Entry of data into defined field spaces Selection of data from options provided in drop-down lists Confirmation of populated data by ticking a box Selection among procedure options by ticking a box. Which data entry method is used depends on the nature of the data and the transaction and as each piece of information is populated in the workspace any invalid or inconsistent data is highlighted for immediate attention. The content of the workspace can be added to subsequently during completion of its data requirements if the nature of the transaction changes. However, once the workspace has been configured and populated from a title register, the title reference cannot be changed. When a workspace is started and populated from a Land Registry’s title register, the existence of the workspace may, at the Land Registry’s discretion, be recorded on the relevant title as a warning to title searchers that a NECS transaction affecting the title is in progress. At least initially, transactions are limited to dealings in land in only one jurisdiction and, at the discretion of each jurisdiction, dealings in: Land parcels made up of no more than a limited number of separate titles (say, three titles) The whole of the parcel The whole of an interest in the land. Dealings in multi-jurisdiction parcels and in part-parcels where ownership is shared will be considered as system enhancements, jurisdiction by jurisdiction, once the initial system implementation has proven itself. Reference: NECS Operations Description V5 130706 Sections 9.2.6, 9.2.6.1 and 9.2.6.2 (Pages 33 and 34 ) How will this impact on your industry practices? Have your say on the forums: http://www.necs.gov.au/forums
Want to know more? Please check out the NECS website http://www.necs.gov.au or contact us at Level 2, 10-16 Queen St Melbourne Vic 3000 Ph: 03 8626 4545 Fax: 03 8626 4546 Email: info@necs.gov.au