I acknowledge the contributions of the Law Society of New South Wales (LS NSW) and the Law Society of Western Australia (LS WA) in the preparation of this submission. [...] The lack of clarity as to what is required under the Separation Regime is also an obstacle to compliance and enforcement, thereby limiting the overall effectiveness of the Separation Regime. [...] We agree that there is a need for improved guidance in the Separation Regime about what services should be subject to the separation requirements, especially noting the comments made in the Issues Paper regarding the views of stakeholders.4 25. [...] Would the benefits of a more robust ring-fencing regime outweigh the costs? Would the benefits of separation outweigh the costs? 33. [...] We suggest that the benefits of a more robust ring-fencing regime, and the benefits of separation, outweigh the costs.
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Table of Contents
- 16 October 2024 1
- Review of the Separation Regime in Operating Requirement 5.6 Issues Paper 1
- Synergies 1
- Review of the Separation Regime in Operating Requirement 5 6 1
- ARNECC ELNOs 1
- LS NSW LS WA 1
- Question 2 Is the list of potential competitive advantages comprehensive Or are there other advantages that could be relevant 1
- Question 3 Is the existing Separation Regime operating effectively and fulfilling its policy intent 2
- Question 4 Is there vertical integration by existing ELNOs and does this impact competition in any market How significant is any impact on competition 2
- Question 5 Do the services we have identified in this Issues Paper represent the core eConveyancing service offerings provided by ELNOs Are there other services that should be considered as being core 2
- Question 6 Are the definitions of upstream and downstream services in the Model Operating Requirements MOR sufficiently clear 3
- MOR 3
- Question 8 Should an upstream service require different consideration from a downstream service under the Separation Regime If so why 3
- Question 10 What are the complexities encountered in developing suitable separation policies and provisions for ELNOs 3
- Question 11 Should all non-core services of an ELNO be subject to separation 4
- Question 12 Is there a need for improved guidance in the Separation Regime around what services should be subject to the separation requirements 4
- Question 13 If so how detailed should these service definitions be 4
- Question 14 Are the obligations contained in the current Separation Regime difficult to interpret If so should the obligations for separation be spelled out in greater detail 4
- Question 15 We have heard that the existing Separation Regime is not fit-for-purpose. In what ways could the separation requirements be strengthened 4
- Question 16 How common is the practice of related party referrals in the market and dose it pose a significant threat to competition 5
- Question 17 Are the current compliance and enforcement provisions in the Separation Regime adequate or should they be strengthened If so in what way 5
- Electronic Conveyancing National Law 5
- Question 19 We have identified a range of issues relating to the current Separation Regime. Are there any issues that we have missed Which issues re of most concern to stakeholders 5
- Competition and Consumer Act 2010 5
- Contact 5
- Greg McIntyre SC President 5
