ARNECC MOR/MPR Version 5.1
The AICWA is pleased to again had the opportunity as a key industry stakeholder to make a submission on behalf of its members regarding the draft versions of the MPR and MOR.
The revised drafts raise some significant concerns in particular Rules 5.6 to 5.6.5 which limits ARNECC’s ability to regulate the behaviours of an ELNO that may have significant advantage from being the only platform or having derived significant market share from having benefited from various state mandates.
Draft Rule 5.6 through to 5.6.5 in their current state significantly reduce the ability of ARNECC to serve as regulator and establish any confidence that potential abuses will be unavoidable or managed appropriately.
The contents of the consultation drafts along with concerns previously noted by the AICWA highlight the immaturity of the current regulatory framework specifically, the MPR, MOR and the Electronic Conveyancing National Law (ECNL).
Read AICWA’s submission HERE
Source:3rd October 2018 AICWA e-Newsletter