10 August 2020
The Property Rights Regulatory System is seen as robust and generally fit-for-purpose, according to an assessment of the system.
A panel led by Land Information New Zealand (LINZ) Director Regulatory Stewardship Stuart Day finalised the review in early 2020. Representatives from the cadastral survey industry, legal profession, Banking Association, Real Estate Authority, and Wellington and Christchurch regional councils were interviewed during the review.
The assessment found that the system is viewed as robust and durable, and delivering confidence in property rights that relate to ownership of most types of land in NZ. LINZ is seen as a fair and capable regulator with a social licence to regulate property rights. For example, the panel found evidence that LINZ has strong relationships and a history of high levels of engagement and collaboration with the survey and legal professions. Several examples were given by interviewees where LINZ has worked with the professions on system issues and to co-design professional guidance and education tools.
Areas for system performance improvement were identified, including:
- Making better information available to customers, reducing the rate of requisitions of Cadastral Survey Datasets (CSDs) and non-automated title dealings, and improving connections between parts of LINZ with system responsibilities.
- Improving the quality and availability of information on system performance for reporting and to guide business enhancement decisions.
- Implementing a comprehensive compliance strategy and making regulatory requirements and guidance clearer and more easily accessible.
- Adapting to meet future demands, for example, assessing whether new tenure constructs are needed to meet changing ownership needs.
LINZ is working to address some of the recommendations through the Rebuilding Landonline programme and proposed work to improve business intelligence.
LINZ will continue to explore areas where further investment will improve the system’s performance, including making better quality information more readily available to customers and by clarifying regulatory requirements and related guidance.
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