On Apr. 3, 2025, AST VIC ECA said version 7.1 of the Operating requirements was published on Apr. 3, 2025, and that version 7.1 comes into effect on May 9, 2025.
AST VIC ECA's page also includes a link to a marked-up copy that shows the revisions.
Revisions were made to definitions i.e. inserted definition of Industry code for e-Conveyancing payments; interoperability fees; and interoperability fees pricing table.
Plus, inserted responsible ELNO fee definition; other revisions relate to compliance with operating requirements; general obligations on ELNO; ELNO service fees; interoperability fees; data standards; when to demonstrate compliance; reporting.
Follows AST VIC ECA May 2024 updated website re owners corporations, see #211709.
Revisions to Operating Requirements
Specify operating requirements for electronic lodgment network operators (ELNOs) which obtained an approval before the version 7 took effect on Mar. 28, 2024.
Where an event which deters ELNOs from complying with the requirements arise, the registrar may extend the deadline for compliance with requirements by written notice.
ELNOs that obtained approval on/after Mar. 28, 2024 must ensure that they enable the lodgment of any electronic registry instrument and other electronic document required.
Prescribe the interoperability framework and interoperability roles; ELNOs must obtain a service organization controls (SOC) 2 type 2 report at least once a year for security.
ELNOs must ensure that interoperability does not result in more risks of fraud/error for interoperable lodgment cases, than those for conveyancing transactions conducted.
Must comply with any release management requirements specified by the registrar; promptly notify any ELNO in interoperability of the fact that a subscriber has committed, is committing, or is about to commit a suspension/termination event.
Revisions to Participation Rules
Clarify that subscribers bear duties re system security within electronic lodgment network (ELN) run by ELNOs with which they have a current participation agreement.
Additionally exclude New South Wales, Tasmania, Western Australia from the duty for subscribers to verify identity of persons to whom certificates of title are provided.
Specify that certification 6 in the Certification rules does not apply in Australian Capital Territory, New South Wales, Queensland, South Australia, Tasmania, Western Australia.
Effectiveness
The requirements and rules are deemed effective from Mar. 28, 2024.
Apr. 2025 Additional Version Published
On Apr. 3, 2025, AST VIC ECA said version 7.1 of the Operating requirements was published on Apr. 3, 2025, and that version 7.1 comes into effect on May 9, 2025.
AST VIC ECA's page also includes a link to a marked-up copy that shows the revisions.
Revisions were made to definitions i.e. inserted definition of Industry code for e-Conveyancing payments; interoperability fees; and interoperability fees pricing table.
Plus, inserted responsible ELNO fee definition; other revisions relate to compliance with operating requirements; general obligations on ELNO; ELNO service fees; interoperability fees; data standards; when to demonstrate compliance; reporting.
