Macquarie Capital will join state governments and major banks as a shareholder in National E-Conveyancing Development Limited, the company seeking to drag Australia's system of property transfers into the modern era.It's not clear under what terms Macquarie will buy into the company or what its stake will be, though the bank will get a seat on the board.In the most recent funding round, in February this year, either a state government or bank paid A$6 million at $1.22 a share. In a funding round in November last year banks paid $1.50 a share.An industry briefing yesterday provided an update on the timetable for the roll out of the new conveyancing system.Testing of what's referred to as "build one" will now begin by January 2013 and will be available for commercial use around May 2013.Design work for "build two" is underway and the company plans to have this in the market by early 2014.