Conveyancing Voice Issue 16

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August 2016

Contents •

Notice to Lodging Parties no 191

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The heat is on: more commercial properties swept up in energy efficiency rules

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Keep Alert Online

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Development Plan Amendemnts

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Frequently Asked Questions

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Submissions

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Calender

AICSA Members Wine Tour & Fund Raiser with MND SA

Study finds technology key to practitioner happiness – as long as it’s good value Australian conveyancers consider effective software and flexible working conditions critical to achieving a positive work-life balance...

AICSA Annual General Meeting

Study finds technology key to practitioner happiness – as long as it’s good value New research by conveyancing technology company GlobalX has found Australian conveyancers consider effective software and flexible working conditions critical to achieving a positive work-life balance.

The study of over 300 professionals found most practitioners identify greater flexibility in their working life - and systems that can help them to achieve this – a more important factor for job satisfaction than increased pay.

GlobalX CEO Peter Maloney said the results reflect an industry shift, with more practitioners realising the positive impact of technology in their day-to-day lives.

“While the adoption of innovation in the legal and conveyancing industries can be slow, 75 per cent of those in our study admitted that technology improves their work-life balance and job satisfaction,’ he said.

“I believe the full impact of innovation is yet to be felt in the conveyancing industry, as more industry members leverage technology opportunities to transform their business and cloud-based software options grow, offering individuals greater flexibility to work files from anywhere at any time,” he said.

Indeed, 60 per cent of respondents identified PEXA and cloud technology as the dominant “tech trends” affecting their business, while a “lack of funds for investment” remains the biggest impediment to implementing new systems.

The research was used at GlobalX in preparation for the introduction of its cloud-based conveyancing workflow solution, Matter Centre.

“We built Matter Centre in collaboration with conveyancers to address a gap in the market for affordable, next-gen features that offer an effective cloud-based conveyancing workflow,” said Mr Maloney.

In line with research findings that found “value for money” to be the top priority for industry professionals when considering new software and services, GlobalX’s Matter Centre software costs $0.

“We’ve removed barriers to accessing nextgen technology by making Matter Centre as affordable as possible and by eliminating lock-in contracts that currently burden many conveyancing firms today,” he said.

National President of the Australian Institute of Conveyancers Santina Taranto confirmed that Australian conveyancers are embracing new technologies that improve their efficiency and accuracy as they prepare for settlement day.

“The property profession is witnessing an exciting transition from paper-based practices to a digital transformation, enabling Conveyancing practitioners to increase profitability whilst gaining efficiencies and improving client experiences,” Ms Taranto said.

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“Technology is fast transforming the way we conduct business and is empowering Conveyancing practitioners to focus on the critical intricacies that lead up to settlement.

“It is important to remember new technologies not take away the Conveyancers day to day practice of operating the file with due care and diligence.”

“For example, technologies like PEXA assist in removing the manual paperwork usually required on settlement date, allowing Conveyancers, and Registries and Financial Institutions to transact together financially online.” Ms Taranto said.

Conveyancing and legal firms can order today to be among the first to get their hands on the next-gen conveyancing solution from GlobalX. For more about the Matter Centre, visit globalx.com.au/matter-centre.

AICSA Annual General Meeting The Annual General Meeting for the Australian Institute of Conveyancers (SA Division) Inc. will be held on Wednesday 14 September 2016 at 2:30pm sharp at the AICSA’s Office, Level 3, 255 Pulteney Street Adelaide.

One position of Councillor has arisen due to the resignation of a sitting Councillor and as such an election to fill a one year vacancy as Councillor will proceed.

Award of Fellowship and Life Membership will also be made at the AGM. Following the AGM we invite you to stay and enjoy drinks and nibbles, to formally open the new AICSA office.

Please find attached the Notice & Agenda for the 2016 AGM and the Proxy Nomination Form.

Documents can be found on the AICSA’s website under the About Us/Governance tab

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Notice To Lodging Parties - No 191 Electonric Conveyancing - A Month in Review Electronic Conveyancing was introduced on 4 July 2016, together with the new Conveyancing Requirements which apply to both paper and electronic transactions.

In the month of July, 226 dealings were lodged electronically – 7 of which were Transfers.

Priority Notices The Priority Notice is an important industry tool to ensure the interests of parties to a transaction are protected. The use of the Priority Notice should be viewed as part of standard prudent conveyancing practice.

With the removal of the Duplicate Certificate of Title, there has been a significant increase in the lodgement of Priority Notices, with 395 Priority Notices lodged in July.

The increase in lodgements has led to a high volume of Priority Notice enquiries through our Customer Service Centre. I would like to reinforce that the majority of information being sought is detailed in NTLP #177 – clients are encouraged to familiarise themselves with the practice of lodging Priority Notices.

The Lodge a Priority Notice and Manage a Priority Notice video tutorials have been updated to include the new “Applicant” field and certifications. These changes were also addressed in NTLP #185.

LTO Forms It has been pleasing to see a number of practitioners lodging dealings aligned with the new Conveyancing Requirements and LTO Form templates.

As part of our ongoing review of the LTO Forms, the below forms have been revised and republished on the sa.gov.au website as Version 2.

Certification Clause Amended E1A M1A T1 T2 T3 T4

Extension of Mortgage (hybrid) Mortgage (hybrid) Transfer Transfer (Dealing with Rights) Transfer of Mortgage Encumbrance or Lease Transfer by Mortgagee Exercising Power of Sale

Certification / Execution Clause Amended CA Application to Note Change / Correction of Address RT Application for New Certificate(s) of Title Coversheet Amended RX

Removal of Caveat

To read the rest of the article Click Here

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The heat is on: more commercial properties swept up in energy efficiency rules More owners and landlords must provide a Building Energy Efficiency Certificate when selling or leasing commercial buildings, following changes to the Commercial Building Disclosure Program.

What is the Commercial Building Disclosure (CBD) Program?

In 2010, the CBD Program was implemented through the Building Energy Efficiency Disclosure Act 2010 (Cth).

The CBD Program aims to improve the energy efficiency of Australia's large commercial buildings to ensure that Australia can achieve the target of increasing energy productivity by 40% from 2015 to 2030. Currently, 10% of Australia's energy consumption comes from commercial buildings. The CBD Program seeks to encourage the use of greener buildings by ensuring that prospective buyers and tenants are aware of the energy efficiency of the commercial building.

Under the CBD Program, sellers and lessors must acquire a Building Energy Efficiency Certificate (BEEC) before putting the property on the market for sale or lease; in turn, the BEEC must be provided to the buyer or lessee at the time of sale or lease. In addition, any advertising material for the sale or lease must include the building's NABERS Energy star rating.

Currently, a BEEC is required when: at least 75% of the net lettable area is used for office space; the building's net lettable area is greater than 2,000 square metres; and no exceptions under the Act apply.

From 1 July 2017,the CBD Programme will apply to all commercial buildings with a net lettable area of at least 1,000 square metres, rather than the current threshold of 2,000 square metres.

Along with this change, Tenancy Lighting Assessments (which are required as a part of the BEEC) approved after 1 September 2016 will be valid for five years, rather than the current term of one year.

What does the expanded BEEC requirement mean for owners, landlords and tenants of commercial buildings?

The Government estimates that the changes to the CBD Program will require an additional 1,000 commercial buildings to provide a BEEC when selling, leasing or subleasing their property and will deliver over $50 million in energy savings. This, it estimates, will reduce emissions by a further 3.5 million tonnes over five years.

More immediately, the changes will ensure that more information is revealed between the parties. Owners and lessors also have more of an incentive to ensure their commercial buildings have a greater energy efficiency level, as this will most likely affect the market value of the property.

If your commercial building property will become subject to energy efficiency disclosure obligations, make sure that you keep records of relevant documents and information to allow you to obtain a NABERS Energy rating and a BEEC when necessary.

Documents you will require when applying for a BEEC and a NABERS Energy rating may include: all utility bills (electricity, gas, LPG, coal, oil) for the previous 12 months; data related to energy consumption by all central services such as common lighting , lifts and air conditioning; data related to energy consumption by building occupants such as tenant's light and equipment and tenant's own air-conditioning; and documents which verify the net lettable area of the building (such as layout plans).

Article Provided by Brendan Bateman The Conveyancing Voice

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Development Plan Amendments Government Gazette No. 45 - Rural City of Murray Bridge Monarto South Development Plan Amendment This Amendment appears on page 3147 of the Government Gazette No. 45/3145 Premable 1. The Monarto South Development Plan Amendment ( The Amendment) by the Rural City of Muarry Bridge has been finalised in accordance with the provisions of the Development Act 1993 2. The Minister for Planning has decided to approve the Amendment To view this in full Click Here

Keep Alert Online Fake Australia Post and AGL emails used to spread ransomware CERT Australia is warning that fake emails claiming to be from Australia Post and AGL are being used to spread ransomware to unsuspecting recipients.

The emails are being used to infect computers with the TorrentLocker ransomware, which criminals use to extort payment from users by encrypting files on a computer system and demanding a ransom for the key to unlock the files.

The fake AGL email has the subject line ‘Electricity usage’ and a number up to eight digits long. The email body includes an amount supposedly incurred for electricity usage charges and an ‘AGL reference number’ the same as the number cited in the email subject line.

The email incorporates two web links: one that purportedly directs users to the details of their usage charges and one that directs users to ‘view current bill’. However, anyone who clicks on either of these links risks infecting their computer with the TorrentLocker ransomware.

A screenshot of the fake AGL email is posted below:

Click Here to read the article in full

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How does First Title help your business?

Risk management for your practice First Title will indemnify the property owner against errors you make in good faith such as incorrectly calculating outstanding rates and taxes during due diligence.* This makes title insurance a powerful risk management tool which can protect you against unnecessary claims on your professional indemnity insurance.

Visit our website www.firsttitle.com.au or speak to our Customer Service team on 1300 362 178 *Indemnity is provided to conveyancers and solicitors who are appointed as distributors by First Title (in accordance with ASIC class order 05/1070). This material is intended to provide general information only. For specific coverage and exclusions, please refer to the policy terms and conditions. Premium is payable on policy issuance.

Some products/services may vary by State. Price and products offered are subject to change without notice. Š 2016 First American Title Insurance Company of Australia Pty Limited ABN: 64 075 279 908 -all rights reserved. AFSL no: 263876

Frequently Asked Questions on RPA Reforms & EC- Updated Im p o r t an t D is cla imer : The a nswer s b elow are not i nte nd e d as l e gal ad v i ce and mu st not b e co ns t rued or relied up o n a s suc h. They a re i nte nd e d onl y as ge ne ral i nf or m at i on b e cau s e a p p aren t ly in s ignifica nt fa c ts ma y result i n a f u nd am e nt al l y d i f f e re nt re su l t or e nab l e a l tern at ives. Th e y reflec t the situa tio n a p p l y i ng at t he t i m e t hat i t i s gi ve n and change i s co ns t an t . Th ey a re given to a ssist co nve yance r s i n m ak i ng t he i r ow n e nq u i r y and are no t a s u b s t it ute for a ca reful rea ding o f the cu r re nt ap p l i cab l e l e gi sl at i on: t he y shou l d not b e i m p l emen ted witho ut deta iled lega l a dvi ce. N ote, to o, t hat conve yanci ng p rac t i ce and req uiremen t s also va r y substa ntia lly b et we e n ju r i sd i c t i ons: t he answe r s are p re p are d f o r S o u t h Au st ralia an d ma y no t b e a ppro pr ia te o r cor re c t i n anot he r ju r i sd i c t i on.

We have re ce nt ly ad d ed new FAQ ’s to the site. Yo u c an access th em by c lick i ng t h e l i n k b e l ow ;

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Timg and AICSA McLaren Vale Winery Tour Our recent AICSA Members event to the McLaren Vale was a great success.

We sampled wine at both d’Arenberg Winery and Alpha Box & Dice who were able to share some insights of their unique wines of the McLaren Vale. This followed lunch at Maxwell Wines Here we enjoyed the Street Degustation with matching wines for lunch.

Special thanks to Rick and Timg in bringing this experience to some of our members and we look forward to working with our other partners in the near future on more exciting events.

Stay Tuned!

Matthew Netherwood Membership & Sponsorship Manager

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AICSA, Marsh & Vero Raise Money for MND SA On the 19th of August, representatives from AICSA, Marsh & Vero , came together at the LTO to raise money for The Motor Nuerone Diseases Assocation of SA. Donuts provided by Vili’s were given in exchange for a donation. In total over $500 was raised, with all funds going to MND SA.

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BOOK NOW – AICSA State Conference

Welcome Reception

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Conference Major Sponsor:

Venue: Audi Room Adelaide Oval Date: Friday 21 2016 Join us Friday night at the Audi Room for cocktails and immerse yourself in the atmosphere of Adelaide Oval. Enjoy listening to the antics of the international tennis circuit, colourfully narrated

by Roger Rasheed.

Purchase a student ticket before September 30 to win your ticket free Cost of Ticket: $75 Roger Rasheed is proudly brought to you by

Attend the event for a chance to win a Roof Climb sponsored by Vero and Marsh over Adelaide Oval simply

Welcome Reception Sponsor:

BOOK NOW For Early Bird– AICSA State Conference

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Tomorrow’s Firm: let’s be creative, let’s diverge and differentiate Venue Adelaide Oval Date Friday 21 – Saturday 22 October 2016 FRIDAY An afternoon of Pre-Conference workshops looking at innovating your business…

Followed by a Welcome Function at the magnificent Adelaide Oval with guest Roger Rasheed talking about his adventures in the tennis world. Attendees have the chance to win a Rooftop climb over the glorious Adelaide Oval Proudly brought to you by Vero & Marsh.

SATURDAY Business Leadership – Conveyancing Fundamentals – Conveyancing Diversities. Book now for our early bird prices

For Full Program details click here.

Tel: 08 8359 2090 Email: project@aicsa.com.au W: aicsaconference.com.au

Conference Major Sponsor:

Submissions An invitation to have your say Title: Review of the Retail & Commercial Leases Act 1995 Date received: 31 May 2016 Invitation from: Small Business Commissioner Referred to: Legislative Policy Committee Institute’s response due: 26 August 2016 Any Member wishing to contribute to the response by the Institute in relation to the above invitations is invited to do so by sending an email to: assist@aicsa.com.au

News and More Commercial leases subject to new unfair contract law (Coleman Greg Lawyers) The business world is abuzz with preparations for the new unfair contract law but have you considered the fact that if your business has commercial leases, they too could be affected?

Rio Olympics and social media - dos and don’ts for brand owners, athletes and spectators (Davies Collison Cave) The High Court of Australia has now had the final say in the ongoing saga of the restaurant tenant who leased premises at Crown

Break fees, reverse break fees and penalties: impact of the recent ANZ decision(Herbert Smith Freehills) The latest High Court decision in the ANZ Bank fees class action gives more comfort as to whether a break fee or reverse break could be susceptible to challenge as a penalty....

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NEW PLANNING LAWS SEMINAR AICSA is pleased to invite you to attend the New Planning Bill Seminar DATE: Tuesday 20 September 2016

DETAILS Come along and hear about the new Planning, Development & Infrastructure Act 2016. Find out what it means for you

Presented by: James Levinson & Tom Game

TIME: 4:00pm - 6:00pm LOCATION: AICSA INVESTMENT: Members: $99.00 (Incl. GST)

Principal Partner for Professional Development Series:

Non-Members: $165.00 (Incl. GST)

Invitation AICSA is inviting you to attend the Conversions Workshop DATE: Tuesday 13 September 2016

DETAILS This session will cover the following: How to convert a strata to community title Role of : The Surveyor & Conveyancer Brought to you by

Diary Dates

Presented by: Michelle Hendry & Minter Ellison

6 September - Alignment Part D

TIME: AM & PM Sessions available LOCATION: AICSA INVESTMENT: Members: $165.00 (Incl. GST)

13 September - Workshop - AM & PM Principal Partner for Professional Development Series:

Non-Members: $275.00 (Incl. GST)

Conversions Work shop 21 October - AICSA STATE CONFERENCE -

Student: $165.00 (Incl. GST)

TICKETS AVAILABLE BOOK NOW!

Professional Development & Event Cancellation, Change & Refund Policy

Settlement Dates Click here for settlement room dates.

PLEASE NOTE: No refund will be given unless more than 7 days notice is received by AICSA in writing.

Member Event Photos

Cancellation may invalidate discount.

Click on the link to view photos from our recent events

Changing between events (including from seminar to recording) after registration and less than 48 hours prior to the event will incur an

Click Here

administration fee of $25.00 (+ GST).

The AICSA reserves the right to cancel sessions that do not reach the minimum number of participants required (full refunds given).

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Real Property Act Alignment Series - PART C & D:

To book your event click here to visit our website to register

SEPTEMBER DATE

SESSION NAME

TIME

LOCATION

6

PEXA Training Computer Workshop (am)

9:00am – 12:30pm

LTO Computer Suite

6

PEXA Training Computer Workshop (pm)

1:30pm – 5:00pm

LTO Computer Suite

12

PEXA Training Computer Workshop (am)

9:00am – 12:30pm

LTO Computer Suite

12

PEXA Training Computer Workshop (pm)

1:30pm – 5:00pm

LTO Computer Suite

CONTACT US Ph: 08 8359 2090 E: project@aicsa.com.au W: www.aicsa.com.au

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AICSA Professional Development Calendar 2016 (August -November)

Principal Partner for Professional Development Series:

SEPTEMBER DATE

SESSION NAME

CPC

TIME

LOCATION

13

Workshop - Conversions - SPACES OPEN

20

9:30am – 12:30pm

AICSA

13

Workshop - Conversions - SPACES OPEN

20

1:30pm – 4:30pm

AICSA

CPC

TIME

LOCATION

OCTOBER DATE

SESSION NAME

1:00pm - 5:00pm (Business sessions)

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AICSA CONFERENCE

TBA

5:00pm - 6:15pm (Welcome cocktail reception)

Adelaide Oval

6:30pm - 8:00pm (Popeye Cruise on the River Torrens + Olive Oyl Paddleboat Challenge)

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AICSA CONFERENCE

TBC

8:00am - 5:00pm

Adelaide Oval

15

4:30pm – 6:00pm

AICSA

NOVEMBER 15

Retirement Villages

CONTACT US Ph: 08 8359 2090 E: project@aicsa.com.au W: www.aicsa.com.au

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Australian Institute of Conveyancers South Australian Division Incorporated

CONTACT

AICSA STAFF Rebecca Hayes Chief Executive Officer e: ceo@aicsa.com.au

6th Floor, 68 Grenfell Street Adelaide SA 5000 GPO Box 2402 Adelaide SA 5001

Geoffrey Adam E-Conveyancing & Legislative Projects Officer e: ecl@aicsa.com.au

Tel: 08 8359 2090

Glenys Jackson Business Manager e: business@aicsa.com.au

Fax: 08 8232 8618 DX 58223 L.T.O. Email: assist@aicsa.com.au Web: www.aicsa.com.au

Matthew Netherwood Membership & Sponsorship Manager e: matthew.netherwood@aicsa.com.au Renzo Rigano Marketing and Communications Coordinator e: communications@aicsa.com.au Karen Holt Membership Coordinator e: membership@aicsa.com.au Megan Whitford Professional Development & Events Coordinator e: project@aicsa.com.au Janette Wale Finance & Administration Officer e: assist@aicsa.com.au

Disclaimer The views expressed in this E-Newsletter are those of the author and not necessarily those of the publisher or editor. The material contained in this publication is of the nature of general comment only, and neither purports, nor is intended to be advice, legal or otherwise, on any particular matter. No subscriber or other reader should act on the basis of any matter contained in the publication without considering and, if necessary, taking the appropriate professional advice upon their own particular circumstances. The publisher, the authors and the editor expressly disclaim all and any liability to any person, whether a purchaser of this publication or not, in respect of anything set out in this publication and of the consequences of anything done or omitted to be done by any person in reliance, whether whole or partial, upon the whole or any part of the contents of this publication. No correspondence will be entered into in relation to this publication either by the publisher or the editor.