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Customer Information Bulletin #152 – Sept 2015

Download CIB #152

Participation Rules and Operating Requirements for electronic conveyancing transactions and Registrar’s Requirements for paper conveyancing transactions

The Registrar has determined Version 3 of each of the Operating Requirements and Participation Rules for electronic conveyancing, under the Electronic Conveyancing National Law (Victoria).  Version 3 of each document takes effect on 9 November 2015.

In determining these, the Registrar has adopted Version 3 of the model operating requirements and the model participation rules developed by the Australian Registrars’ National Electronic Conveyancing Council (ARNECC).

In addition, Version 1 of the Registrar’s Requirements has been determined under section 106A of the Transfer of Land Act 1958.    

Following are the requirements and dates on which each takes effect:

2015

30 September

  • Paper quality and printing requirements for paper instruments, and form of applications to the Registrar

9 November

  • Verification of identity and authority for clients
  • Supporting evidence retention

1 December

  • Verification of identity of non-represented parties

2016

1 March

  • Lodging parties for discharges

1 August

  • Classes of instruments that must be lodged using an ELN  – some discharges of mortgages and some mortgages must be lodged electronically

2017

3 April

  • Certifications
  • Client authorisations
  • Certifications under section 74(1A) TLA

The Operating Requirements, Participation Rules and Registrar’s Requirements are available at www.delwp.vic.gov.au > Property and land titles > Property information >Publications. 

Customers are also advised that ARNECC has published three Model Participation Rules Guidance Notes on Client Authorisation, Verification of Identity and Certifications, and Consultation Drafts of Model Participation Rules on Right to Deal and Retention of Evidence.

The three final Model Participation Rules Guidance Notes and their consultation feedback table are at www.arnecc.gov.au/publications/mpr_guidance_notes

The two draft Model Participation Rules Guidance Notes  are at www.arnecc.gov.au/consultation/mpr_guidance_notes   The deadline for feedback to ARNECC on these drafts is 31 October 2015.

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