{"id":"F1997B02267","name":"Homes Savings Grant Regulations","slug":"f1997b02267","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"139 of 1970","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":321341,"registerId":"commonwealth-F1997B02267-current","compilationNumber":null,"startDate":"2026-04-08","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Homes Savings Grant Regulations","content":"STATUTORY RULES\n\n1970 No.\n\nREGULATIONS UNDER THE HOMES SAVINGS GRANT ACT 1964-1970.\\*\n\nI, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Homes Savings Grant Act 1964-1970.\n\nDated this nineteenth day of September, 1970.\n\nPaul Hasluck\n\nGovernor-General.\n\nBy His Excellency’s Command,\n\n![Signature of Minister of State for Housing](image.001.jpeg)\n\nMinister of State for Housing.\n\nHOMES SAVINGS GRANT REGULATIONS\n\nCitation.\n\n1. These Regulations may be cited as the Homes Savings Grant Regulations.\n\nHousing loan interest.\n\n2. The rate of eight and one-quarter per centum per annum is prescribed for the purposes of the definition of “housing loan” in sub-section (1.) of section 4b of the Homes Savings Grant Act 1964-1970.\n\n\\*Notified in the Commonwealth Gazette on 1970.\n\nPrinted by Authority by the Government Printer of the Commonwealth of Australia\n\n21319/70—Price 5c 10/14.8.1970","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1755},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"These regulations remain strictly limited to their original narrow purpose of prescribing a single technical rate (8.25%) for the definition of 'housing loan'. They have not expanded beyond this specific administrative function."},"complexity_factors":["Only 2 operative provisions (citation and rate prescription)","No defined terms within the instrument itself","Single cross-reference to parent Act (section 4b)","No exceptions, conditions, or procedural requirements"],"plain_english_summary":"These regulations set the **maximum interest rate** that a home loan can charge to qualify as a \"housing loan\" under the Homes Savings Grant Act.\n\n**What it does**\n* Fixes the rate at **8.25% per annum** (8¼ percent per year)\n* This number plugs into the definition of \"housing loan\" in the parent Act\n* If a loan charges more than 8.25% interest, it won't count as a housing loan for the grant scheme\n\n**Who it affects**\n* Home buyers applying for the Homes Savings Grant who need their mortgage to qualify\n* Banks and lenders setting interest rates for loans that applicants want to use with the grant\n\n**Why it matters**\nThe main Act left blank what interest rate counts as a \"housing loan.\" These regulations fill in that blank with a specific number, ensuring only loans at or below 8.25% interest are eligible for the government grant."}},"importantCases":[],"_links":{"self":"/api/acts/f1997b02267","history":"/api/acts/f1997b02267/history","analysis":"/api/acts/f1997b02267/analysis","conflicts":"/api/acts/f1997b02267/conflicts","importantCases":"/api/acts/f1997b02267/important-cases","documents":"/api/acts/f1997b02267/documents"}}