The push to roll out a national electronic conveyancing system is close to collapse because Australia's Council of Australian Governments has not allocated Au$20 million to establish a company to run the new system. This is despite money being earmarked for the e-conveyancing project.
Private sector players - banks and solicitors - have by and large boycotted the Victorian Government's e-conveyancing system (ECV), but are behind this project. They have expressed concern that years of preparatory work will be lost, not to mention cost savings of some Au$ 437 million. The bigger fear is that the failure to get the project going will result in the financial benefits being lost for at least a generation.
Article on the Australian