National Housing Finance and Investment Corporation Investment Mandate Amendment (Removal of Limit on Major Bank Guarantees) Direction 2023

I, Julie Collins, Minister for Housing, Minister for Homelessness and Minister for Small Business, make the following direction.

Dated 14 June 2023

Julie Collins

Minister for Housing
Minister for Homelessness
Minister for Small Business

Contents

1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

National Housing Finance and Investment Corporation Investment Mandate Direction 2018

1  Name

  This instrument is the National Housing Finance and Investment Corporation Investment Mandate Amendment (Removal of Limit on Major Bank Guarantees) 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Note: This table relates only to the provisions of this instrument as originally made.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  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.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  Subsection 29I(7)

Omit “a financial year”, substitute “the 2021‑22 financial year or an earlier financial year”.

2  After paragraph 29K(1)(a)

Insert:

 (aa) ensure that a proportion of guarantees issued under the First Home Guarantee in the 2022‑23 financial year or a later financial year are issued to eligible lenders that are not major banks; and