At COAG, the Council of Australian Governments, the states agreed to a timetable where a national system would be implemented by 2010 (see below for the full timetable). The system is intended to allow the lodgement of all interests and transactions involving real property and to deal with the associated stamp duty obligations.
The proposal involves the establishment of a new entity to be owned by all states and the appointment of a board for the new entity comprising "skills-based" representatives with banking, IT, coveyancing and commercial backgrounds. The initial task for the board will be to assess the current Victorian system and determine whether it is fit for use in all states.
The move is a small but important step forward, as the process appeared to be stalled over the issue of whether Victoria's system should be considered at all, or whether the other states should develop their own platform.
The real fun will begin if the board assesses the Victorian software and decides that it isn't suitable for a national rollout.
More at the NECS website here: http://www.necs.gov.au/NECSpress-Issue-31---03-July-2008/default.aspx
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October 2008 - Agree to form of legal entity for the new system
October 2008 - Settle and sign governance agreement for the entity
October 2008 - Agree funding for the entity
December 2008 - Establish the entity and appoint the Board
March 2009 - Agree nationally uniform business processes
December 2009 - Any necessary legislative changes in jurisdictions
March 2010 - Commencement of the new system
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