Treasury Laws Amendment (Housing Measures No. 1) Act 2023 (81 of 2023)

Schedule 2   Housing Australia functions

Part 1   Main amendments

Housing Australia Act 2018

8   Section 10

Repeal the section, substitute:

10 Financing, guarantee and capacity building functions

(1) This section applies in relation to Housing Australia's financing function, guarantee function and capacity building function.

Applications

(2) 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:

(a) the making of a loan or grant;

(b) the issuing of a guarantee;

(c) for assistance in capacity building.

(3) Housing Australia must consider the application:

(a) within the timeframe specified in the Investment Mandate (if any); and

(b) in accordance with the decision-making criteria and limits specified in the Investment Mandate.

(4) 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

(5) 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.

(6) The entity must comply with the terms and conditions.

Payments under the agreements

(7) If, under the terms and conditions set out in the written agreement, an amount is payable to Housing Australia:

(a) the amount is a debt due by the entity to Housing Australia; and

(b) the amount is recoverable by action in a court of competent jurisdiction.