- Changes to operating and participation rules proposed following industry consultation
- MORs had a focus on changes to digital
- MPRs have made a number of amendments to verification and authorisation rules
The Office of the Registrar General in New South Wales recently announced the final Version 6 of the Model Operating Requirements, and Model Participation Rules.
Published by The Australian Registrars’ National Electronic Conveyancing Council (ARNECC), Version 6 will come into effect about a month from now, on 12 April 2021.
In the announcement, it was stated the changes were made following industry consultation, a major MOR change includes the “requirement for an Electronic Lodgment Network Operator’s (ELNO’s) Business Plan to include an assessment of the likely costs for development and ongoing expansion of a fully functional ELNO System”.
Other key changes to the MORs are mostly digital-related, with ELNO a common record-keeping requirement to ensure and facilitate integration.
Obligations regarding cybersecurity competency have been added, the introduction of the ELNO requires “an implementation plan covering a minimum two year period”.
Changes to MPR include the “Removal of the Subscriber as Attorney mechanism,” with other amendments including authorisation and verification issues.
The NSW Registrar General noted that the NSW Participation Rules, and Operating Requirments would be adopted and published at a later date, once finalised.
This is article does not contain legal advice nor does it purport to represent legal advice. Any mentions about law and changes to the law are general only. Please see the relevant authority for details on MORs and MPRs, or seek professional legal advice.