Financing, guarantee and capacity building functions
10 Financing, guarantee and capacity building functions
This section applies in relation to Housing Australia’s financing function, guarantee function and capacity building function.
Applications
An entity may apply to Housing Australia for any of the following in circumstances where the Investment Mandate provides that Housing Australia must consider such an application:
the making of a loan or grant;
the issuing of a guarantee;
for assistance in capacity building.
Housing Australia must consider the application:
within the timeframe specified in the Investment Mandate (if any); and
in accordance with the decision‑making criteria and limits specified in the Investment Mandate.
Housing Australia may only make loans and grants to, issue guarantees to or provide assistance in capacity building to, an entity in the performance of its functions mentioned in subsection (1) if the entity has applied to Housing Australia for the loan, grant, guarantee or assistance in capacity building under subsection (2).
Terms and conditions
The terms and conditions on which the loan, grant, guarantee or assistance in capacity building is provided must be set out in a written agreement between Housing Australia and the entity.
The entity must comply with the terms and conditions.
Payments under the agreements
If, under the terms and conditions set out in the written agreement, an amount is payable to Housing Australia:
the amount is a debt due by the entity to Housing Australia; and
the amount is recoverable by action in a court of competent jurisdiction.
9 Subparagraphs 13(b)(i) and (c)(i)
Omit “loans, investments and grants”, substitute “loans and grants”.
10 Paragraph 13(d)
Omit “investments”, substitute “loans”.
11 Section 14
Omit “loan, investment or grant” (wherever occurring), substitute “loan or grant”.
12 Paragraph 47C(2)(a)
Omit “function mentioned in paragraph 8(1)(a)”, substitute “financing function”.
12A At the end of section 48
Add:
The Investment Mandate may include a direction that the Board must, for the purposes of subsections (1) and (2), disregard liabilities or loans of a specified type.
13 Subsection 48A(2)
Omit “function under paragraph 8(1)(ca)”, substitute “guarantee function”.
14 Subparagraph 56(b)(ii)
Omit “Commonwealth;”, substitute “Commonwealth.”.
15 Paragraph 56(c)
Repeal the paragraph.
16 After section 57A
Insert:
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