The Convenor would like to thank all Committee members, in particular those who regularly attended on monthly Monday lunchtime meetings. Special thanks is also given to Brenda Barrowclough and Karen Sussock of the Law Society who during the year acted as Secretary of the Committee.

This year has offered a challenging workload for the modest number of regular attendees of Property Committee meetings.

As in 2006, the Committee has needed to deal with various issues relating to the e-dealing regime and has raised with the Registrar-General of Lands and his staff issues of concern that have been raised with the Committee by practitioners in Auckland.

Earlier this year, the Committee was active in preparing submissions in relation to the draft Solicitor’s Code of Conduct. Our Committee awaits with interest the revised Code which hopefully will be more realistic to reflect the practicalities of the profession, time will tell.

The Committee has also been actively involved in advising the Profession of the risks associated with dealing with finance company advances. In particular, the dangers of reversals of advances made by finance companies is an ongoing concern. The Committee would repeat its ongoing message to the Profession that extreme caution is required when replying on finance companies advances.

The Committee has also considered the implications of the significant new 2007 legislation that will affect all property lawyers, including the new Property Law Act, Wills Act and the advent of the KiwiSaver scheme.

Another topic that has regularly arisen on the Committee’s agenda are the problems that can occur where a settlement protocol has not been agreed between solicitors in relation to settlement by electronic transfer. Further work in this area will be required in 2008.