Government Senators Additional Comments

Introduction

1.1Government senators extend their thanks to all submitters and witnesses to this inquiry. The expertise and views provided are appreciated.

1.2Government senators acknowledge that property transactions are among the largest and most significant financial undertakings many Australians enter into and agree there would be consumer benefits from improved competition in eConveyancing.

1.3Government senators recognise that improving competition across the economy is essential for lifting dynamism and productivity, and for putting downward pressure on prices at a time when Australians are dealing with cost-of-living pressures.

1.4Government senators recognise the importance of ensuring that this market is competitive, resilient and delivers benefits for consumers. Government senators agree that the state of competition in the eConveyancing market is unsatisfactory.

1.5Government senators acknowledge the work underway by states and territories to build a sustainable and competitive market structure for eConveyancing. The Commonwealth supports these efforts and recognises that cooperation across jurisdictions is necessary to achieve the best outcomes for consumers. Government senators note that conveyancing, including eConveyancing, is fundamentally the responsibility of the states and territories.[1]

1.6Government senators note that the Commonwealth has encouraged Australian Registrars’ National Electronic Conveyancing Council (ARNECC) to take regulatory actions already available to them to respond to competition issues and has encouraged states and territories to consider providing ARNECC with additional powers to address current gaps in regulatory authority.

1.7Government senators further note that NSW has taken steps to create enforcement powers under its conveyancing compliance and enforcement policy.[2] Government senators consider this a constructive approach and suggest that states and territories explore the development of consistent powers through model legislation to strengthen oversight, support interoperability reforms and promote competitive market conduct.

1.8Government senators note that the current market structure, and many of the issues raised throughout the inquiry have arisen because states and territories chose to privatise a public monopoly. That ill-considered privatisation has resulted in a private monopoly with weak competitive discipline and limited incentive to deliver lower costs, innovation or consumer benefits.

1.9The Government notes that the ARNECC review is a significant part of the broader reform landscape.[3] As the review has not yet been released, it is appropriate that the Government consider its findings in full before determining whether further Commonwealth action is required.

1.10Government senators note that the Chair’s recommendation to commission another sector-wide inquiry by the ACCC risks duplicating existing work and may not be necessary given the substantial reviews already underway.

1.11Since coming to government, significant reforms have been progressed to directly address competition issues, protect consumers and modernise Australia’s competition policy settings. Some of these reforms include:

The most substantial merger reform in fifty years, strengthening the ACCC’s ability to detect and prevent anti-competitive consolidation;[4]

Revitalising National Competition Policy, including commissioning updated advice on competition priorities for a more dynamic and productive economy;[5]

Abolishing 1,000 nuisance tariffs to reduce business costs and improve economic efficiency;[6]

Banning unfair contract terms, delivering stronger protections for consumers and small businesses;[7]

Increasing penalties for anti-competitive conduct and breaches of consumer law, ensuring regulators have the tools needed to deter misconduct;[8] and

Broader work across government to lift competition, including cost-of-living focused reforms, productivity measures and coordinated efforts with states and territories to support competitive market structures.

Response to Committee Report Recommendations

Commentary on Recommendation 3

5.25 The committee recommends that:

the Australian Registrar’s National Electronic Conveyancing Council make the Financial Requirements Review and the Cost Benefit Analysis publicly available; and

if public release is not possible, then a summary of key findings and recommendations be provided to the Australian Competition and Consumer Commission, the Treasurer, the Assistant Minister for Competition, Charities and Treasury and tabled in the Senate fifteen sitting days from receipt.

1.12Government senators support Recommendation 3.

1.13Government senators recognise the intent behind Recommendation 3 and the importance of ensuring that any reforms to interoperability are grounded in clear evidence and deliver genuine benefits to consumers, practitioners, and the broader property market. However, as noted in the Chair’s report, ARNECC is still in the process of completing its cost–benefit analysis.[9] The Government will need to consider that analysis in full before forming a final view on the scope, timing, and design of any further changes.

1.14Transparency around ARNECC’s Financial Requirements Review and Cost Benefit Analysis will assist stakeholders and policymakers to better understand the regulatory settings governing the sector.

1.15Public release of these documents, or where that is not possible, the provision of a summary of key findings and recommendations, would support Government decision-making, and contribute to improving competition in eConveyancing.

Conclusion

1.16Government senators emphasise the importance of a strong, coherent and forward-looking competition agenda. The Government is pursuing significant reforms to strengthen competition across the economy, and these reforms are relevant to the future of eConveyancing.

1.17It remains essential that the Government be able to consider the outcomes of the ARNECC review before determining whether any additional actions or regulatory interventions by the Commonwealth are appropriate.

1.18Given the volume of existing review activity, Government senators also note concerns that commissioning an additional ACCC inquiry into the sector, as recommended, would be unnecessary and disproportionate at this stage.

1.19A sustainable and competitive market structure for eConveyancing is an important goal shared across jurisdictions. Government senators look forward to the release of the ARNECC review and remain committed to ensuring competition reforms proceed in a way that supports consumers, improves resilience and delivers long-term benefits for the economy.

Senator Lisa Darmanin

Deputy Chair

Labor Senator for Victoria

Footnotes

[1]ARNECC, Ministerial Forum: National eConveyancing, June 2024 (accessed 21 November 2025).

[2]NSW Government, Office of the Registrar General, Electronic Conveyancing National Law (NSW) ELNO and Subscriber Compliance and Enforcement Policy, June 2025, (accessed 21November2025).

[3]ARNECC, Cost Benefits Analysis - Terms of Reference, July 2025.

[4]Department of the Treasury, Competition Review, Merger Reform: Consultation Paper, November2023.

[5]Department of the Treasury, Competition Review Terms of Reference, March 2019.

[6]Department of the Treasury, Tariff reform: removal of nuisance tariffs, April 2024 (accessed 21November 2025); Department of the Treasury, Tariff reform: removal of additional nuisance tariffs, August 2025 (accessed 21 November 2025).

[7]ASIC, ‘Unfair contract terms reforms commence’, Media Release, 9 November 2025.

[8]The Hon Dr Andrew Leigh MP, Assistant Minister for Competition, Charities and Treasury, ‘Increase to penalties for breaches of competition and consumer law’, Media Release, 18August2022.

[9]ARNECC, Cost Benefits Analysis - Terms of Reference, July 2025.