E-Government: Making Australia’s E-Conveyancing System a Reality
This paper reports on progress towards achieving the National Electronic Conveyancing system (NECS) and analyse its significance in the general context of e-Government. The NECS is one of the most significant e-government projects ever undertaken. NECS was created by Australian State and Territory Governments in 2005 and significant progress has been made over the past five years.. This is a significant development because property transactions are one of the most significant and pervasive commercial activities engaged in by almost all Australians at some time in their lives. Conveyancers, legal practitioners, financial institutions, mortgage processors and other players involved in conveyancing will be able to access the NECS online with an electronic workspace provided for each property transaction. The system will allow users to provide, secure, certify and sign documentation that will be used to update the Torrens Title Registers in each State and Territory. This will involve the issuance of Digital Signature Certificates issued under the Australian Governments Gatekeeper Framework which will ensure authentication and prevent repudiation and various risk mitigation and fraud prevention measures will be taken. Financial settlement will occur through the Reserve Bank's Information and Transfer System (RITS) with disbursements received promptly and cleared for reuse. The State and Territory Revenue Offices will receive duty and tax payments electronically as cleared funds from the settlements through the NECS. Consumers will authorise their practitioners to use NECS on their behalf and be able to track the progress of their transaction via limited Internet access to the NECS. Financial institutions will be able to integrate their services and mortgage documentation systems with the NEC system. Collectively, the NECS is an excellent example of what is required if the promises of e-government are to be realised.
Proceedings. 2010 IEEE Sixth International Conference on e-Science Workshops
Property Law (excl. Intellectual Property Law)