Lodgement Override allows financial settlement to continue in the event communication with the relevant Land Registry is unavailable.
What does this mean?
Normally, when PEXA receives a successful reservation response from the RBA (and the assessment notice from the Duty Authority in Victoria), PEXA submits the Lodgement Case to the relevant Land Registry for Lodgement. Once lodged, financial settlement proceeds.
But what happens when the Land Registry is unavailable? (e.g. an unforeseen outage)
PEXA skips this step and continues with Financial Settlement. Later, the completion of the Lodgement of Registry Instruments will happen as soon as practicable once communications with the Land Registry are re-established
As part of release 5.1, PEXA will automatically invoke the Lodgement Override functionality in the event that a Lodgement technical exception is encountered. Therefore, users will no longer need to opt into Lodgement Override for any new PEXA workspaces created.
As Lodgement Override functionality will be defaulted to always 'On', users will no longer have the option to select 'Lodgement Override' or 'Remove Lodgement Override' in the Financial Settlement Schedule.
Furthermore, the option to always default Lodgement Override to 'On' within a Subscriber's profile will be removed, as this question has become redundant as a result of this release.