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Housing Australia Future Fund Act 2023
In force
Administered by
Department of Finance
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C2024C00274 C01
06 July 2024
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Part 1—Preliminary
1 Short title
2 Commencement
2A Object
3 Simplified outline of this Act
4 Definitions
5 Crown to be bound
6 Extension to external Territories
7 Extra territorial application
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Part 2—Housing Australia Future Fund
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Division 1—Introduction
8 Simplified outline of this Part
Division 2—Establishment of the Housing Australia Future Fund and the Housing Australia Future Fund Special Account
9 Establishment of the Housing Australia Future Fund
10 Establishment of the Housing Australia Future Fund Special Account
Division 3—Credits of amounts to the Housing Australia Future Fund Special Account
11 Credits of amounts
Division 4—Debits of amounts from the Housing Australia Future Fund
12 Main purposes of the Housing Australia Future Fund Special Account
13 Purposes of the Housing Australia Future Fund Special Account—purposes related exclusively to the investments etc. of the Housing Australia Future Fund
14 Purposes of the Housing Australia Future Fund Special Account—purposes not related exclusively to the Housing Australia Future Fund
15 Future Fund Board must ensure that the balance of the Housing Australia Future Fund Special Account is sufficient to cover authorised debits etc.
16 Transfers from the Housing Australia Future Fund to the Future Fund
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Part 3—Grants
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Division 1—Introduction
17 Simplified outline of this Part
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Division 2—Grants
18 Grants
19 Terms and conditions of grants
20 Designated Minister has powers etc. of the Commonwealth
21 Conferral of powers on a designated Minister
22 Constitutional limits—grants to persons or bodies other than a State or Territory
23 Executive power of the Commonwealth
24 Publication of information relating to grants
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Division 3—Housing Australia Future Fund Payments Special Account
25 Housing Australia Future Fund Payments Special Account
26 Transfers from the Housing Australia Future Fund Special Account to the Housing Australia Future Fund Payments Special Account
27 Other credits to the Housing Australia Future Fund Payments Special Account
28 Purpose of the Housing Australia Future Fund Payments Special Account
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Division 4—Channelling State/Territory grants through the Federation Reform Fund
29 Channelling State/Territory grants through the Federation Reform Fund
30 Debits from the Federation Reform Fund
31 Other credits to the Housing Australia Future Fund Special Account
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Part 4—Transfers from the Housing Australia Future Fund Special Account to the Housing Australia Special Account
32 Simplified outline of this Part
33 Requested transfers from the Housing Australia Future Fund Special Account to the Housing Australia Special Account
33A Guaranteed transfers from the Housing Australia Future Fund Special Account to the Housing Australia Special Account
33B Meaning of designated annual amount
33C Determination of designated annual amount
33D Determination of designated annual amount—advice given by the Future Fund Board
33E Indexation of designated annual amount
34 Debits from the Housing Australia Special Account
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Part 5—Limit on amounts debited from the Housing Australia Future Fund Special Account
35 Simplified outline of this Part
36 Limit on amounts debited from the Housing Australia Future Fund Special Account
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Part 6—Investment of the Housing Australia Future Fund
37 Simplified outline of this Part
38 Objects of investment of the Housing Australia Future Fund
39 Investment of the Housing Australia Future Fund
40 Management of investments of the Housing Australia Future Fund
41 Housing Australia Future Fund Investment Mandate
42 Obligation on Future Fund Board in performing investment functions
43 Limitation on Housing Australia Future Fund Investment Mandate
44 Future Fund Board to be consulted on Housing Australia Future Fund Investment Mandate
45 Compliance with Housing Australia Future Fund Investment Mandate
46 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
47 Borrowing
48 Housing Australia Future Fund investment policies
49 Derivatives
50 Additional financial assets
51 Securities lending arrangements
52 Investment managers
53 Refund of franking credits
54 Realisation of non financial assets
55 Additional function of the Future Fund Board
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Part 7—Reporting obligations etc.
56 Simplified outline of this Part
57 Finance Minister may require Future Fund Board to prepare reports or give information
58 Keeping the responsible Ministers informed etc.
59 Finance Minister may give reports, documents and other information to other Ministers
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Part 8—Miscellaneous
60 Simplified outline of this Part
61 Delegation by the Finance Minister
62 Delegation by the Treasurer
63 Delegation by a designated Minister
64 Delegation by the Housing Minister
65 Reviews of operation of Act
66 Rules
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
