Simplified outline of this Act
4 Simplified outline of this Act
Housing Australia is established to improve housing outcomes by (within constitutional limits) making loans and grants and issuing guarantees.
Housing Australia performs its functions in accordance with one or more directions given by the Minister, known as its Investment Mandate.
The Board of Housing Australia decides Housing Australia’s strategies and policies and ensures the proper, efficient and effective performance of its functions.
The Chief Executive Officer of Housing Australia is responsible for the day‑to‑day administration of Housing Australia. Housing Australia may engage staff and consultants. The Board may establish Committees.
The Board must ensure that Housing Australia maintains commercially sound and sufficient levels of capital and reserves.
Housing Australia may pay a dividend to the Commonwealth, and may borrow money (supported by a Commonwealth guarantee).
Housing Australia also has functions under the Help to Buy Act 2024. Some, but not all, of the provisions of this Act apply in relation to the Help to Buy functions.
This Act’s bill:Explanatory memorandumSecond reading speech
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