COAG continues regulatory reform

COAG agreed that a national electronic conveyancing system would be implemented, which will establish a single electronic system for completing real property transaction and lodging land  title dealings.

NECS  is one of five initiatives announced at the meeting for the delivery of a seamless national economy.    The Commonwealth committed to provide funding of $550 million over five years for the implementation of these reforms. 

Arrangements in relation to funding allocation and progressing the initiatives are currently being finalized by COAG senior officials. The communiqué states that this must be completed no later than 12 December 2008.