National Housing Finance and Investment Corporation Investment Mandate Amendment (National Housing Accord—Preparatory Work) Direction 2023

Dated   28 August 2023          

Julie Collins

Contents

1  Name........................................................................................................................................ 1

2  Commencement........................................................................................................................ 1

3  Authority.................................................................................................................................. 1

4  Schedules................................................................................................................................. 1

Schedule 1—Amendments                                                                                           2

National Housing Finance and Investment Corporation Investment Mandate Direction 2018      2

1  Name

                   This instrument is the National Housing Finance and Investment Corporation Investment Mandate (National Housing Accord—Preparatory Work) Direction 2023.

2  Commencement

(1)   Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

(2)   Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under subsection 12(1) of the National Housing Finance and Investment Corporation Act 2018.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

National Housing Finance and Investment Corporation Investment Mandate Direction 2018

1  After section 8B

Insert:

8C  Preparatory work for National Housing Accord commitment

             (1)  The NHFIC may undertake preparatory work for the delivery of the Australian Government’s commitment under the National Housing Accord 2022 to support an additional 10,000 affordable dwellings over 5 years from 2024 (the National Housing Accord commitment), subject to subsections (2) and (3).

             (2)  The preparatory work must be incidental or conducive to the performance of the NHFIC’s functions under subsection 8(1) of the Act.

             (3)  In undertaking the preparatory work, the NHFIC must not:

                     (a)  enter into contracts for loans, investments, grants or guarantees relating to the provision of housing under the National Housing Accord commitment; or

                     (b)  commence a process for selecting a particular recipient of a loan, investment, grant or guarantee relating to the provision of housing under the National Housing Accord commitment.

2  Paragraph 9(1)(a)

Omit “8B”, substitute “8C”.