Australian Property Legislation varies between each jurisdiction in every State of Australia there is a different scheme of regulating property rights that combines legislation but is also receptive of the common law. Despite differing statutes, the substantive effect in each jurisdiction is quite similar. The reason there is no unified national system for regulating property is the reservation of this power to the states in the constitution. There have been discussions about a co-operative system of regulation to be implemented between the states, conferring jurisdiction on the federal commonwealth in a similar manner done in The Corporations Act 2001.