PM announces Federal control over the Murray-Darling

Will the States accede control over inland water rights of the Murray-Darling to the Federal government?

Constitutional law experts questioned whether the PM had the legal power to take control of the system, which apparantly supplies water to 85% of Australia's irrigated crops.

20 odd years ago the Federal Government passed laws that overrided the Tasmanian government's plan to dam the Gordon Franklin. Then they used the external affairs power .

If the States dont hand over their power, Mr Howard will have three choices

• he could drop the plan
• take it to the High Court, or
• seek a mandate for change through a referendum

Australia is screaming out for a centrally managed approach to the Murray-Darling problem. This is too important an issue to be left to political outcomes. The PM has come out in support with a $10 billion starting package. If he fails to collectively overcome the State premiers, the PM should quickly turn to Option C, the referendum. If the referendum fails, and I cant see this happening, the Federal government can always revert to Option B, taking the States to the High Court.

The Commonwealth could use a range of powers to cover many of the areas covered in the Governments blue-print

• the corporations power could be used to provide legislation surrounding business using water in the basin
• the external affairs power could be used to write legislation concerning treaties that cover the environment and water quality.
• apparently it would be difficult to use the trade and commerce power, thanks to section 100 (this says states have the right to reasonable use of water for conservation and irrigation

All this points more and more to the people of this country understanding that State Governments are past their use by date. Federal Government needs to be linked to strong regional / local government.

Ditto for a centralised Australian property register with uniform property laws.

Ever lost a settlement bank cheque?

Conveyancing is a serious adult game of pass the parcel. Come settlement you hand over the title and the other side collects the sale proceeds by bank cheque. Losing the title or losing the bank cheque comes at a cost.

Well only the other day we handed over settlement bank cheques and collected the title, transfer and discharge. Our firm personally handed over to the NAB a bank cheque for $53,317 being part of the funds required to settle.

Just before 5pm we get a phone call from NAB settlement department - "We have lost or misplaced the bank cheques; did our settlement clerk take the cheque(s) by mistake?"

We checked and no, our settlement agent did not have the cheques. Rightly so the NAB asked "Can you please stop the bank cheques?"

Next morning I went to the Commonwealth and without a problem they stopped the cheque and re-issued a fresh bank cheque for $53,317. Again all this comes at a cost, being time and bank charges and for the party losing the cheque the frustration and questions will I recover the lost money. I have sent NAB an invoice for our time spent in stopping and re-issuing the bank cheque on the 9th Jan, but funny thing is they haven't paid the invoice, thus I am still sitting on their funds pending payment.

Again when the era of electronic settlements and electronic registration of titles office dealings begins, such incidents as described will hopefully become a thing of the past

ANZ announces major mortgage IT project

ANZ has announced two major IT projects. One is the way it deals with corporate customers that will move corporate and business accounts online in a way that mirrors systems running the personal banking portal.

The other major technology project planned for 2007 year involves introducing software to help automate mortgage processing in the ANZ's personal banking division.

Mr Dalton, who was appointed ANZ CIO in 2006 has announced another important IT project, which affects mortgage processing, is a mortgage automation program, which involves introducing workflow decision software to help automate the back-office component of our mortgages business.

But will it create a portal giving lawyers and conveyancers –

1. Online tracking of client’s mortgage status


2. Online booking of settlements


3. Online advice of available funds


4. Online settlement cheque details

It would be a real coup if it does.

Source Australian IT 16 Jan 07

NYT Study Says Computers Give Big Boosts to Productivity

What we've got here is (a) failure to communicate

2007 New Year’s Resolution

I was thinking what realistic contribution could the major banks make to the mortgage and conveyancing industry that could make a real difference in 2007?

Not unlike most new year’s resolutions, I am giving up cigarettes or I am going to lose 10 kilos such lame resolves get confined to the waste bin for another year.

The great crime the banks repeat ad nauseum and to quote Cool Hand Luke “What we've got here is failure to communicate”.

Communication – or actually the lack of it. That is the problem. And if any of you bankers want to leave a great legacy this is one area you need to fix and everyone would be eternally grateful. I know the State Government’s eConveyancing is on the agenda and is happening but we cannot afford to wait another 10 years for this to kick in.

You can easily fix the problem now.

What needs to be done? – Give lawyers and conveyancers -

1. Online tracking of client’s mortgage status


2. Online booking of settlements


3. Online advice of available funds


4. Online settlement cheque details

That’s it – simple. Think how much more streamlined settlements would become. Your settlement staff could be redployed to deal with the real issues and problems that arise. The frustration of putting law clerks and conveyancers on hold would dry up. You get the picture.

Look at what you achieved when you introduced ATMs and online banking.

The dollar investment in making this one new year resolution happen would be very low and your ROI would be quickly recouped. Maybe you are ready to surprise us and you are all poised to release such a service. Gadens, I understand, has already started down this path and they need to be applauded.

There are a whole lot of law clerks and conveyancers fed up and frustrated with the system.

Law clerks and conveyancers are like Luke slumped in the culvert beside the roadway, the frustrated Captain recovers his composure and delivers the line “What we've got here is...failure to communicate.”, pronouncing his summary judgment of the problem: that it can be nothing more than a matter of Luke failing to understand the one-way nature of the communication that is incumbent on his present demotion in social status.