Model Operating Requirements - Consultation Draft 7.1
The submission to the Australian Registrars' National Electronic Conveyancing Council (ARNECC) regarding Consultation Draft 7 of the Model Operating Requirements (MORs) was prepared by the Law Council of Australia.
In the Law Council’s view, some of the amendments made in this revised version of the MORs adopt a restricted concept of interoperability, limited to the titling and registration aspects of the conveyancing process. For interoperability to be appropriately regulated, the Law Council submits that this narrow focus is not appropriate.
The regulatory framework should effectively provide for the completion of the whole of a conveyancing transaction, including ‘associated financial transactions’, by interoperable Electronic Lodgment Network Operators (ELNOs).