ELNO Conditions of approval

Special conditions

Approvals and related conditions for each ELNO:

PEXA approval and conditions

Sympli approval and conditions

ELNO vendor guarantees

Under the general conditions, each ELNO is required to provide a guarantee for the benefit of vendors in residential eConveyancing transactions.

ELNO vendor guarantee table sets out the key terms and conditions of each ELNO’s vendor guarantee.

ELNO service fees

Under the general conditions, an ELNO may increase its service fees once each financial year. The conditions impose an annual price increase cap of “CPI – Factor”, with the factor set each year by the Registrar General. The factor allows the Registrar General to adjust the price cap in line with market conditions. In determining the factor, the Registrar General takes into account any review of the electronic conveyancing market conducted by the Independent Pricing and Regulatory Tribunal (IPART).

The table below shows the factor for each financial year.

Electronic Lodgment Network outages

NSW process

Like any electronic network, Electronic Lodgment Networks (ELNs) can experience outages – some outages are caused by an error with the ELN itself, others are caused by an issue with a party connected to an ELNO’s system, such as a financial institution, land registry or revenue office.

In NSW, we have established processes for monitoring ELN outages and ensuring that ELNOs take action to investigate/rectify issues in a timely manner, including putting into place system changes to resolve underlying issues. For example, ELNOs must:

• promptly report to the Registrar any incident which affects the security, integrity or performance of the ELN, including root cause analysis to identify the underlying cause of the incident
• meet performance levels in respect of the reliability and availability of their ELN
• provide a monthly report to the Registrar, which includes all system outages and security incidents, as well as actions to prevent reoccurrence and subscriber notification steps
• develop a remediation plan, where required by the Registrar, detailing how it will rectify the underlying cause of an incident.

Additionally, the Registrar can carry out a compliance examination, under the Electronic Conveyancing National Law, to ascertain an ELNO’s compliance with the operating requirements – including in relation to performance levels, system security and incident reporting.

Impacts of other systems

ELNOs’ systems integrate with multiple other systems to facilitate conveyancing transactions – including land registries, revenue offices and financial institutions. Where there is an incident or outage on one of these interconnected systems which impacts the ELN, it may be outside the ELNO’s control to prevent the outage or rectify the underlying issue – although the ELNO must still report the incident to the Registrar, due to the impact on subscribers.

For these third-party incidents, we use regular governance meetings as a forum to ensure that ELNOs are actively engaging with interconnected parties to address the underlying issue and, as far as possible, minimise the risk of future incidents impacting the ELN.

Contact information

For more information on ELN outages, please contact the relevant ELNO in the first instance:

PEXA:
T: 1300 084 515
E: [email protected]

Sympli:
T: 1300 796 754
E: [email protected]

Contacting the Registrar General

The contact details for the Registrar General for matters relating to the ELNO approval and conditions are:

Director, Regulation and Compliance
Office of the Registrar General
McKell Building
2-24 Rawson Place
Sydney NSW 2000

[email protected]