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Parliamentary report is simply ‘spinning the wheel’
A long-awaited report into competition in NSW’s highly concentrated e-conveyancing system fails to deliver on much-needed reform in the industry, the Australian Institute of Conveyancers NSW said. The report, tabled in parliament this week, was the product of an upper house committee inquiry that looked at issues like outages, pricing, enforcement and market interoperability. A key concern raised in public hearings was that property exchange network PEXA, which holds a near monopoly in the market, was standing in the way of competition. In its report, the inquiry committee found the
