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Parliamentary Questions

Question Without Notice No. 803 asked in the Legislative Council on 7 November 2017 by Hon Tjorn Sibma

Minister responding: Hon R. Saffioti
Parliament: 40 Session: 1
Answered on 7 November 2017

ELECTRONIC CONVEYANCING
803. Hon TJORN SIBMA to the minister representing the Minister for Lands:
I refer to the mandated implementation of electronic conveyancing or e-conveyancing for all mortgage, discharge of mortgage, and refinance transactions in Western Australia from 1 December 2017.
      (1) What financial interest does the state government have in PEXA?
      (2) What additional costs will be borne by users from 1 December as a consequence of the implementation mandatory e-conveyancing?
      (3) What share of the fee charged for mandatory e-conveyancing will the state government receive?
      (4) What advice has the minister received from Landgate on the costs of electronic conveyancing?
Hon STEPHEN DAWSON replied:
      I thank the honourable member for some notice of the question.
      (1) The state government holds a 12.15 per cent shareholding in PEXA. Three other state governments—New South Wales, Queensland and Victoria—are also shareholders. The state made a series of investments in PEXA between 2011 and 2016 with the approval of the then Ministers for Lands—Hon Brendon Grylls, MLA, 2011 to 2013; Hon Terry Redman, MLA, 2013 to 2016—the Treasurer of the day, Hon Christian Porter, MLA; Hon Troy Buswell, MLA; and Hon Mike Nahan, MLA.
      (2)–(3) Nil.
      (4) The member is asked to clarify which electronic conveyancing costs he is referring to.