NEW LEGISLATION - OVERVIEW

The Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002 was passed on 16 May 2002. The Amendment Act replaces and repeals the Land Transfer (Automation) Amendment Act 1998, the primary objective of which was to keep the Land Transfer register in an electronic rather than paper form. The Amendment Act 2002 preserves those provisions and builds on them. In addition to permitting the register to be kept electronically, the legislation introduces a regime allowing for electronic registration. The Act also made some improvements to the existing paper systems. For instance, there are new ways of creating easements and changes to the method of lodging and removing caveats.

The Amendment Act 2002 comes into force on a variety of dates. Section 2 of the Amendment Act provides for some provisions coming into force on 17 May 2002, others on 1 June 2002 and further provisions by Order in Council. An Order in Council brought most provisions into force on 26 August 2002. Sections 42, 52, and 58 of the Amendment Act came into force after 26 August 2002. Those provisions relate to the removal of redundant easements, early lapse of caveats and deposit documents. The implementation of those provisions was deferred because they require the development of additional systems, which are not yet complete.

The Amendment Act 2002 is supported by new regulations. The Land Transfer Regulations 2002 revoke the Land Transfer Regulations 1966. The new regulations contain many of the old provisions, together with new ones required in order to implement electronic registration. The new regulations came into force in mid to late August 2002.