National Implementation Strategy

The NECS Roadmap includes a National Implementation Strategy which consists of four main stages:

• Stage 1 - Setting Up: involves extensive stakeholder consultation, requirements collection, systems specification, governance determination, funding and implementation planning. Significantly, this stage will include the preparation and negotiation with key industry and government stakeholders of a comprehensive NECS Implementation Plan. 

• Stage 2 - Building: involves systems development and/or acquisition, testing and commissioning to satisfy the collective requirements of all stakeholders.

• Stage 3 - Readying: involves passing legislation, prescribing business practices, building system interfaces, establishing back-office processes and user support facilities, maintaining stakeholder awareness and support. Significantly, this stage will involve all government and industry stakeholders devising and implementing appropriate NECS readiness programs

• Stage 4 - Converting: involves assisting practitioners and financial institutions to transfer their work from the existing paper process to the new NECS electronic environment.

More detailed information is available at National Implementation Strategy.

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