Only APRA regulated financial institutions may request an eCT:

• after registration of an electronic mortgage, and
• if they are ELNO Subscribers or are represented by a ELNO subscriber. This is essential because once there is an eCT for the land title, future transactions will require an CoRD Holder Consent to be lodged in an ELNO.

A paper CT will always issue if the registration results in the land title becoming:

• unencumbered (no mortgage), or
• encumbered with a first mortgagee who is not eligible for an eCT.