IPART is investigating a national pricing regulatory framework for interoperable electronic conveyancing transactions between Electronic Lodgment Network Operators (ELNOs).
This review is significant because eConveyancing is used to settle many conveyancing transactions in Australia. Interoperability is important because having different systems being able to ‘talk’ to each other gives customers a choice of which ELNO they use.
To support interoperability in eConveyancing transactions, the Australian Registrars National Electronic Conveyancing Council (ARNECC) proposes to update the operating rules for ELNOs.
This would include provisions on the fees they may charge other ELNOs for participating in an interoperable transaction.
We published our second Issues Paper in October 2022, which outlined the draft decisions we have made so far, including that direct price control is our preferred form of regulation for interoperable transaction fees.
The Tribunal is currently considering stakeholder submissions on Issues Paper 2.
Stakeholders will have an opportunity to provide feedback on a draft report early next year.
We have until April 2023 to complete the review and prepare a final report.