Veterans' Affairs Legislation Amendment (Budget Measures) Act 2009 (80 of 2009)

Schedule 1   Amendments

Part 2   Amendments relating to insurance

Defence Service Homes Act 1918

11   After section 38CA

Insert:

38CAA Insurance of certain other houses etc. - Defence Home Ownership Assistance Scheme Act 2008

(1) The Commonwealth may undertake insurance of, or in relation to:

(a) a house in which a person who is eligible under the Defence Home Ownership Assistance Scheme Act 2008 has an interest; or

(b) building materials on the site of a house mentioned in paragraph (a), being materials used in the building of, or otherwise in relation to, the house; or

(c) any permanent improvement of a structural kind that has been made to a house mentioned in paragraph (a), or that has been constructed on the land on which such a house is built, and any building materials on the site of, and used in the building of, or in relation to, such an improvement.

(2) The Commonwealth may undertake insurance against risks related to the land on which a house mentioned in paragraph (1)(a) is built, or on which a house mentioned in paragraph (1)(b) is being, or is to be, built.

(3) In this section:

eligible and house have the same respective meanings as in the Defence Home Ownership Assistance Scheme Act 2008.

Note: The heading to section 38CA is altered by adding at the end " - Home Loans Assistance Act ".