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Plans for a single national system for electronic property transaction settlements is set to meet resistance from the legal profession and banks tomorrow.
The proposed national e-conveyancing system, which will allegedly save consumers up to $250 million a year, is to be set up and regulated by federal and state governments, However there is concern the Victorian model could prove too difficult to integrate with the other states and territories.
Prime minister Kevin Rudd and the premiers of each state are expected to convene in Sydney tomorrow to sign off on the regulation and several other key issues.
Published: 02-06-08
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