{"id":"C2024A00124","name":"Help to Buy Act 2024","slug":"help-to-buy-act-2024","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"124 of 2024","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":16791,"registerId":"commonwealth-C2024A00124-current","compilationNumber":null,"startDate":"2026-03-31","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":0},{"sectionNumber":"Division 1","sectionType":"division","heading":"Preliminary","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":1},{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"#### 1 Short title\n\n This Act is the Help to Buy Act 2024.","sortOrder":2},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

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Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.","sortOrder":3},{"sectionNumber":"3","sectionType":"section","heading":"Object of this Act","content":"#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.","sortOrder":4},{"sectionNumber":"4","sectionType":"section","heading":"Simplified outline of this Act","content":"#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.","sortOrder":5},{"sectionNumber":"Division 2","sectionType":"division","heading":"Definitions","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

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Provisions

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The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":6},{"sectionNumber":"5","sectionType":"section","heading":"Definitions","content":"#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.","sortOrder":7},{"sectionNumber":"6","sectionType":"section","heading":"Meaning of Help to Buy arrangement","content":"#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.","sortOrder":8},{"sectionNumber":"7","sectionType":"section","heading":"Meaning of shared equity arrangement","content":"#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.","sortOrder":9},{"sectionNumber":"Division 3","sectionType":"division","heading":"Other matters","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":10},{"sectionNumber":"8","sectionType":"section","heading":"Crown to be bound","content":"#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.","sortOrder":11},{"sectionNumber":"Part 2","sectionType":"part","heading":"Help to Buy functions of Housing Australia","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":12},{"sectionNumber":"9","sectionType":"section","heading":"Purpose of this Division","content":"#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.","sortOrder":14},{"sectionNumber":"10","sectionType":"section","heading":"Help to Buy functions of Housing Australia—participating States and Territories","content":"#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.","sortOrder":15},{"sectionNumber":"11","sectionType":"section","heading":"Help to Buy powers of Housing Australia—participating States and Territories","content":"#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.","sortOrder":16},{"sectionNumber":"12","sectionType":"section","heading":"Limitations on Help to Buy powers of Housing Australia—participating States and Territories","content":"#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.","sortOrder":17},{"sectionNumber":"13","sectionType":"section","heading":"Reporting—participating States and Territories","content":"#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.","sortOrder":18},{"sectionNumber":"14","sectionType":"section","heading":"Purpose of this Division","content":"#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.","sortOrder":20},{"sectionNumber":"15","sectionType":"section","heading":"Help to Buy functions of Housing Australia—cooperating States","content":"#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.","sortOrder":21},{"sectionNumber":"16","sectionType":"section","heading":"Help to Buy powers of Housing Australia—cooperating States","content":"#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.","sortOrder":22},{"sectionNumber":"17","sectionType":"section","heading":"Limitations on Help to Buy powers of Housing Australia—cooperating States","content":"#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).","sortOrder":23},{"sectionNumber":"18","sectionType":"section","heading":"Reporting—cooperating States","content":"#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.","sortOrder":24},{"sectionNumber":"19","sectionType":"section","heading":"Purpose of this Division","content":"#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.","sortOrder":26},{"sectionNumber":"20","sectionType":"section","heading":"Help to Buy functions of Housing Australia—withdrawn States","content":"#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.","sortOrder":27},{"sectionNumber":"21","sectionType":"section","heading":"Help to Buy powers of Housing Australia—withdrawn States","content":"#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).","sortOrder":28},{"sectionNumber":"22","sectionType":"section","heading":"Limitations on Help to Buy powers of Housing Australia—withdrawn States","content":"#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.","sortOrder":29},{"sectionNumber":"23","sectionType":"section","heading":"Reporting—withdrawn States","content":"#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.","sortOrder":30},{"sectionNumber":"Part 3","sectionType":"part","heading":"Help to Buy Program Directions","content":"## Part 3—Help to Buy Program Directions","sortOrder":31},{"sectionNumber":"24","sectionType":"section","heading":"Help to Buy Program Directions","content":"#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).","sortOrder":32},{"sectionNumber":"25","sectionType":"section","heading":"Matters covered by Help to Buy Program Directions","content":"#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.","sortOrder":33},{"sectionNumber":"26","sectionType":"section","heading":"Limits on Help to Buy Program Directions","content":"#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.","sortOrder":34},{"sectionNumber":"Part 4","sectionType":"part","heading":"Finance","content":"## Part 4—Finance","sortOrder":35},{"sectionNumber":"27","sectionType":"section","heading":"Provision of contributions by Commonwealth","content":"#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.","sortOrder":36},{"sectionNumber":"28","sectionType":"section","heading":"Payment of returns to Commonwealth","content":"#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.","sortOrder":37},{"sectionNumber":"Part 5","sectionType":"part","heading":"Miscellaneous","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":38},{"sectionNumber":"Subdivision A","sectionType":"subdivision","heading":"General provisions","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":40},{"sectionNumber":"29","sectionType":"section","heading":"Simplified outline of this Division","content":"#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).","sortOrder":41},{"sectionNumber":"30","sectionType":"section","heading":"Definitions","content":"#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).","sortOrder":42},{"sectionNumber":"31","sectionType":"section","heading":"Versions of this Act","content":"#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).","sortOrder":43},{"sectionNumber":"Subdivision B","sectionType":"subdivision","heading":"Definitions of primary, residual and amendment matters","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":44},{"sectionNumber":"32","sectionType":"section","heading":"Meaning of primary matters","content":"#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).","sortOrder":45},{"sectionNumber":"33","sectionType":"section","heading":"Meaning of residual matters","content":"#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).","sortOrder":46},{"sectionNumber":"34","sectionType":"section","heading":"Meaning of amendment matters","content":"#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.","sortOrder":47},{"sectionNumber":"Subdivision C","sectionType":"subdivision","heading":"Definitions of participating, cooperating and withdrawn States","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":48},{"sectionNumber":"35","sectionType":"section","heading":"Meaning of participating State","content":"#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.","sortOrder":49},{"sectionNumber":"36","sectionType":"section","heading":"Meaning of cooperating State","content":"#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.","sortOrder":50},{"sectionNumber":"37","sectionType":"section","heading":"Meaning of withdrawn State","content":"#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.","sortOrder":51},{"sectionNumber":"Subdivision D","sectionType":"subdivision","heading":"Constitutional basis of provisions relating to withdrawn States","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":52},{"sectionNumber":"38","sectionType":"section","heading":"Constitutional basis of provisions relating to withdrawn States","content":"#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.","sortOrder":53},{"sectionNumber":"39","sectionType":"section","heading":"Interaction with the Housing Australia Act 2018","content":"#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.","sortOrder":56},{"sectionNumber":"40","sectionType":"section","heading":"Application of the Lands Acquisition Act 1989","content":"#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.","sortOrder":57},{"sectionNumber":"41","sectionType":"section","heading":"Concurrent operation of State and Territory laws","content":"#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.","sortOrder":59},{"sectionNumber":"41A","sectionType":"section","heading":"When Help to Buy program does not apply—exclusion by law of State or Territory","content":"#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).","sortOrder":60},{"sectionNumber":"42","sectionType":"section","heading":"Avoiding inconsistency with State and Territory laws","content":"#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).","sortOrder":61},{"sectionNumber":"42A","sectionType":"section","heading":"Declarations and regulations","content":"#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).","sortOrder":62},{"sectionNumber":"42B","sectionType":"section","heading":"Excluded provisions","content":"#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).","sortOrder":63},{"sectionNumber":"42C","sectionType":"section","heading":"Preservation of Commonwealth entitlement and security","content":"#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.","sortOrder":64},{"sectionNumber":"42D","sectionType":"section","heading":"Modification of Help to Buy program","content":"#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.","sortOrder":65},{"sectionNumber":"43","sectionType":"section","heading":"Review by Administrative Review Tribunal","content":"#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.","sortOrder":67},{"sectionNumber":"44","sectionType":"section","heading":"Matters to be included in annual reports","content":"#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.","sortOrder":68},{"sectionNumber":"45","sectionType":"section","heading":"Review of operation of Help to Buy program","content":"#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.","sortOrder":69},{"sectionNumber":"Division 4","sectionType":"division","heading":"Legislative instruments","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":70},{"sectionNumber":"46","sectionType":"section","heading":"Approval of States and Territories required for regulations and other legislative instruments","content":"#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.","sortOrder":71},{"sectionNumber":"47","sectionType":"section","heading":"Regulations","content":"#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.","sortOrder":72},{"sectionNumber":"Part 6","sectionType":"part","heading":"Application and transitional provisions","content":"An Act to provide for Housing Australia to enter into shared equity arrangements on behalf of the Commonwealth to improve housing outcomes for Australians, and for other purposes\n\n## Part 1—Preliminary\n\n### Division 1—Preliminary\n\n#### 1 Short title\n\n This Act is the Help to Buy Act 2024.\n\n#### 2 Commencement\n\n (1) Each provision of this Act 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.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. The whole of this Act

The day after this Act receives the Royal Assent.

11 December 2024

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.\n\n#### 3 Object of this Act\n\n The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for Australians by assisting low‑income and middle‑income individuals to buy homes.\n\n#### 4 Simplified outline of this Act\n\nThis Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.\n\n> Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.\n\nIn performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.\n\nHousing Australia’s contributions under Help to Buy arrangements are funded by the Commonwealth, and Housing Australia must pay to the Commonwealth all returns from those contributions.\n\n### Division 2—Definitions\n\n#### 5 Definitions\n\n In this Act:\n\n> authority of the Commonwealth includes:\n\n (a) a Commonwealth company (within the meaning of the Public Governance, Performance and Accountability Act 2013); and\n (b) a Commonwealth entity (within the meaning of that Act).\n\n> Board has the same meaning as in the Housing Australia Act 2018.\n\n> business day means a day that is not a Saturday, a Sunday or a public holiday in the Australian Capital Territory.\n\n> cooperating State has the meaning given by section 36.\n\n> enter into a shared equity arrangement has a meaning affected by subsections 7(3) to (6).\n\n> extended consultation period has the meaning given by subsection 46(5).\n\n> Help to Buy arrangement has the meaning given by section 6.\n\n> Help to Buy program means:\n\n (a) this Act; and\n (b) the regulations; and\n (c) the Help to Buy Program Directions; and\n (d) any other legislative instrument made under this Act.\n\n> Help to Buy Program Directions has the meaning given by subsection 24(2).\n\n> minimum consultation period has the meaning given by subsection 46(3).\n\n> National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009.\n\n> participating State has the meaning given by section 35.\n\n> residential property:\n\n (a) subject to paragraph (b), includes:\n (i) residential property within the meaning of the National Credit Code (disregarding paragraphs (e) and (f) of the definition of residential property in subsection 204(1) of the National Credit Code); and\n (ii) anything prescribed by the regulations for the purposes of this subparagraph; and\n (b) does not include anything prescribed by the regulations for the purposes of this paragraph.\n\n> shared equity arrangement has the meaning given by subsections 7(1) and (2).\n\n> State or Territory home buyer scheme means a scheme, program or arrangement (whether temporary or otherwise) that:\n\n (a) was established before, on or after the commencement of this Act by an Act of a State, the Australian Capital Territory or the Northern Territory; and\n (b) provides financial or other types of assistance to individuals towards the purchase of residential property.\n\n> State or Territory home buyer scheme law means a law of a State, the Australian Capital Territory or the Northern Territory, to the extent that the law relates to a State or Territory home buyer scheme.\n\n> withdrawn State has the meaning given by section 37.\n\n#### 6 Meaning of Help to Buy arrangement\n\n (1) Subject to subsection (2), a Help to Buy arrangement is a shared equity arrangement in relation to a residential property that Housing Australia enters into, on behalf of the Commonwealth, in the performance of Housing Australia’s function mentioned in paragraph 10(1)(a).\n (2) An arrangement in relation to residential property that Housing Australia enters into in the performance of Housing Australia’s functions under the Housing Australia Act 2018 is not a Help to Buy arrangement.\n (3) For the purposes of subsection (2) of this section, disregard paragraph 8(1)(ca) of the Housing Australia Act 2018.\n\n#### 7 Meaning of shared equity arrangement\n\n Meaning of shared equity arrangement\n (1) Subject to subsection (2), a shared equity arrangement in relation to a residential property is an arrangement or contract with one or more individuals:\n (a) under which Housing Australia, on behalf of the Commonwealth:\n (i) contributes (including by means of a loan) part of the cost of the individual or individuals acquiring the residential property; and\n (ii) is entitled to a return on that contribution worked out, in whole or in part, by reference to the value of the residential property at one or more times; and\n (iii) secures that entitlement by means of a mortgage or other right relating to the residential property; or\n (b) that is prescribed by the regulations for the purposes of this paragraph.\n (2) An arrangement or contract prescribed by the regulations for the purposes of this subsection is not a shared equity arrangement in relation to a residential property.\n Variations\n (3) Subject to subsection (5), enter into a shared equity arrangement does not include vary a shared equity arrangement (even if the variation changes the parties to the arrangement).\n (4) Subsection (5) applies in relation to varying a shared equity arrangement if:\n (a) after the variation, the shared equity arrangement relates to particular residential property; and\n (b) before the variation, the arrangement did not relate to that particular property.\n (5) This Act applies in relation to the variation in the same way as it applies in relation to entering into a shared equity arrangement in relation to that particular residential property.\n (6) A reference in subsections (3) to (5) to vary a shared equity arrangement includes a reference to:\n (a) vary a shared equity arrangement by entering into an agreement that varies the arrangement; or\n (b) agree to vary a shared equity arrangement.\n\n### Division 3—Other matters\n\n#### 8 Crown to be bound\n\n (1) This Act binds the Crown in each of its capacities.\n (2) This Act does not make the Crown liable to be prosecuted for an offence.\n\n## Part 2—Help to Buy functions of Housing Australia\n\n### Division 1—Participating States and Territories\n\n#### 9 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to:\n (a) participating States; and\n (b) Territories.\n\n> Note: For participating State, see section 35.\n\n#### 10 Help to Buy functions of Housing Australia—participating States and Territories\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;\n (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;\n (c) to administer such arrangements on behalf of the Commonwealth;\n (d) to monitor compliance with such arrangements;\n (e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;\n (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;\n (g) to do anything incidental or conducive to the performance of the above functions.\n (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:\n (a) providing information to Housing Australia; or\n (b) terminating Help to Buy arrangements; or\n (c) consequences of non‑compliance with Help to Buy arrangements.\n Obligation to act properly, efficiently and effectively etc.\n (3) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 11 Help to Buy powers of Housing Australia—participating States and Territories\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 10.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 12 Limitations on Help to Buy powers of Housing Australia—participating States and Territories\n\n Housing Australia must not enter into a Help to Buy arrangement unless directions of the kind mentioned in subparagraph 24(1)(a)(i) are in force.\n\n#### 13 Reporting—participating States and Territories\n\n Without limiting paragraph 10(3)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 10.\n\n### Division 2—Cooperating States\n\n#### 14 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to cooperating States.\n\n> Note: For cooperating State, see section 36.\n\n#### 15 Help to Buy functions of Housing Australia—cooperating States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a cooperating State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) to monitor compliance with such arrangements;\n (c) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 20), to the extent that they relate to a cooperating State;\n (d) any other functions, relating to a cooperating State, prescribed by the regulations for the purposes of this paragraph;\n (e) to do anything incidental or conducive to the performance of the above functions.\n Obligation to act properly, efficiently and effectively etc.\n (2) In performing a function mentioned in subsection (1), Housing Australia must:\n (a) act in a proper, efficient and effective manner; and\n (b) take all reasonable steps to comply with the Help to Buy Program Directions.\n\n#### 16 Help to Buy powers of Housing Australia—cooperating States\n\n (1) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in section 15.\n (2) Without limiting subsection (1) of this section, Housing Australia may, for the purpose of performing those functions, enter into arrangements and contracts (whether on behalf of the Commonwealth or in Housing Australia’s own right) with any persons or entities, including:\n (a) the Commonwealth, a State or a Territory; or\n (b) an authority of the Commonwealth or of a State or Territory; or\n (c) any other organisation or body.\n (3) Without limiting subsection (1) or (2), Housing Australia has the powers (if any) prescribed by the regulations for the purposes of this subsection in relation to the performance of those functions.\n\n#### 17 Limitations on Help to Buy powers of Housing Australia—cooperating States\n\n To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a cooperating State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n#### 18 Reporting—cooperating States\n\n Without limiting paragraph 15(2)(b), Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 15.\n\n### Division 3—Withdrawn States\n\n#### 19 Purpose of this Division\n\n This Division sets out the functions and powers of Housing Australia under this Act in relation to withdrawn States.\n\n> Note: For withdrawn State, see section 37.\n\n#### 20 Help to Buy functions of Housing Australia—withdrawn States\n\n Functions\n (1) Housing Australia has the following functions under this Act:\n (a) to administer, on behalf of the Commonwealth, Help to Buy arrangements that:\n (i) relate to residential property located in a withdrawn State; and\n (ii) were entered into before the State stopped being a participating State;\n (b) any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.\n Obligation to act properly, efficiently and effectively\n (2) In performing a function mentioned in subsection (1), Housing Australia must act in a proper, efficient and effective manner.\n\n#### 21 Help to Buy powers of Housing Australia—withdrawn States\n\n (1) Housing Australia may, in administering a Help to Buy arrangement that relates to residential property in a withdrawn State as mentioned in paragraph 20(1)(a), do anything that the Help to Buy arrangement:\n (a) permits or requires Housing Australia to do (including do on behalf of the Commonwealth); or\n (b) permits or requires the Commonwealth to do.\n (2) Housing Australia has the power to do all things necessary or convenient to be done for, or in connection with, the performance of its functions mentioned in paragraph 20(1)(b).\n\n#### 22 Limitations on Help to Buy powers of Housing Australia—withdrawn States\n\n (1) To avoid doubt, Housing Australia does not have the power under this Division to enter into a shared equity arrangement in relation to a residential property located in a withdrawn State.\n\n> Note: This section also prohibits Housing Australia from making certain variations to a Help to Buy arrangement: see subsections 7(4) and (5).\n\n (2) Housing Australia does not have the power under this Division to make a contribution under a Help to Buy arrangement relating to residential property located in a withdrawn State.\n\n#### 23 Reporting—withdrawn States\n\n Housing Australia must take all reasonable steps to comply with any directions that:\n (a) are included in the Help to Buy Program Directions as mentioned in subsection 25(3); and\n (b) are directions about reporting on matters relating to the functions mentioned in section 20.\n\n## Part 3—Help to Buy Program Directions\n\n#### 24 Help to Buy Program Directions\n\n (1) The Minister may, by legislative instrument, give the Board any of the following directions:\n (a) directions about the performance of:\n (i) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (ii) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15;\n (b) directions of the kind mentioned in subsection 25(3) (about reporting).\n\n> Note 1: The Minister must consult with the participating and cooperating States and the Territories before giving directions under this subsection: see section 46.\n\n> Note 2: Section 42 (disallowance) of the Legislation Act 2003 does not apply to the directions: see regulations made for the purposes of paragraph 44(2)(b) of that Act.\n\n (2) Directions given under subsection (1) together constitute the Help to Buy Program Directions.\n (3) In giving a direction under subsection (1), the Minister must have regard to:\n (a) the object of this Act; and\n (b) any other matters the Minister considers relevant.\n (4) The Minister must give at least one direction under paragraph (1)(a).\n\n#### 25 Matters covered by Help to Buy Program Directions\n\n (1) The Help to Buy Program Directions may include directions about the following in relation to the functions mentioned in paragraph 24(1)(a):\n (a) strategies and policies to be followed for the effective performance of the functions;\n (b) criteria for making decisions in the performance of the functions;\n (c) limits on entering into Help to Buy arrangements;\n (d) internal review of decisions made by Housing Australia in the performance of the functions;\n (e) internal handling of complaints relating to the performance of the functions;\n (f) any other matters the Minister thinks appropriate.\n (2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:\n (a) the period, or periods, during which Housing Australia may enter into Help to Buy arrangements;\n (b) the number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (c) the kinds of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements;\n (d) the amount, or amounts, that Housing Australia may contribute under Help to Buy arrangements.\n Reporting\n (3) For the purposes of paragraph 24(1)(b), the Help to Buy Program Directions may include directions about reporting on matters relating to:\n (a) Housing Australia’s functions under this Act in relation to participating States and Territories, mentioned in section 10; or\n (b) Housing Australia’s functions under this Act in relation to cooperating States, mentioned in section 15; or\n (c) Housing Australia’s functions under this Act in relation to withdrawn States, mentioned in section 20.\n\n#### 26 Limits on Help to Buy Program Directions\n\n (1) The Minister must not give a direction under subsection 24(1) that is inconsistent with this Act (including the object of this Act) or the Housing Australia Act 2018 (including the object of that Act).\n (2) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring the Board or Housing Australia:\n (a) to enter into a particular Help to Buy arrangement; or\n (b) to enter into a Help to Buy arrangement in relation to a particular residential property; or\n (c) to enter into a Help to Buy arrangement with a particular individual or individuals; or\n (d) to take, or not to take, particular action relating to a Help to Buy arrangement.\n\n## Part 4—Finance\n\n#### 27 Provision of contributions by Commonwealth\n\n (1) The Commonwealth must pay to Housing Australia amounts to enable Housing Australia to make contributions on behalf of the Commonwealth under Help to Buy arrangements.\n (2) Housing Australia must use amounts provided under subsection (1) only for the purpose mentioned in that subsection.\n (3) Housing Australia must make contributions on behalf of the Commonwealth under Help to Buy arrangements only from amounts paid to Housing Australia under subsection (1).\n Appropriation\n (4) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n#### 28 Payment of returns to Commonwealth\n\n Housing Australia must pay to the Commonwealth as soon as reasonably practicable:\n (a) all amounts Housing Australia receives on behalf of the Commonwealth under Help to Buy arrangements; and\n (b) any interest Housing Australia receives in performing its functions under this Act.\n\n## Part 5—Miscellaneous\n\n### Division 1—Provisions relating to the constitutional basis of this Act etc.\n\n#### Subdivision A—General provisions\n\n#### 29 Simplified outline of this Division\n\nSection 35 provides that a participating State is a State that:\n\n(a) refers the primary matters (see section 32), the residual matters (see section 33) and the amendment matters (see section 34) to the Commonwealth; or\n\n(b) adopts the primary and residual versions of this Act (see section 31) and refers the amendment matters to the Commonwealth.\n\n> Note: Division 1 of Part 2 provides for Housing Australia to enter into and administer Help to Buy arrangements in relation to residential property located in a participating State.\n\nSection 36 provides that a participating State becomes a cooperating State if the State:\n\n(a) terminates its reference of the primary matters, or its adoption of the primary version of this Act; but\n\n(b) does not terminate its other references or its adoption of the residual version of this Act.\n\n> Note: Division 2 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a cooperating State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a cooperating State.\n\nSection 37 provides that a participating or cooperating State becomes a withdrawn State if the State terminates its reference of the residual matters, its adoption of the residual version of this Act or its reference of the amendment matters.\n\n> Note: Division 3 of Part 2 provides for Housing Australia to administer Help to Buy arrangements in relation to residential property located in a withdrawn State if the arrangements were entered into before the State ceased to be a participating State. Housing Australia cannot enter into new Help to Buy arrangements in relation to residential property located in a withdrawn State.\n\nTo the extent this Act relates to withdrawn States, it relies on the Commonwealth’s legislative powers other than the power under paragraph 51(xxxvii) of the Constitution (see section 38 of this Act).\n\n#### 30 Definitions\n\n In this Division:\n\n> amendment matters has the meaning given by subsection 34(1).\n\n> express amendment has the meaning given by subsections 34(4) and (5).\n\n> primary matters has the meaning given by subsection 32(1).\n\n> primary version of this Act has the meaning given by subsection 31(2).\n\n> referral law of a State means the law of the State that refers the amendment matters to the Commonwealth Parliament.\n\n> referred primary provisions has the meaning given by subsection 32(3).\n\n> referred residual provisions has the meaning given by subsection 33(3).\n\n> relevant version of this Act has the meaning given by subsection 31(1).\n\n> residual matters has the meaning given by subsection 33(1).\n\n> residual version of this Act has the meaning given by subsection 31(3).\n\n#### 31 Versions of this Act\n\n (1) For the purposes of this Division, the relevant version of this Act, in relation to a State, is:\n (a) if, at the time the State’s referral law was enacted, this Act had not been enacted—this Act as originally enacted; or\n (b) otherwise—this Act:\n (i) as originally enacted; and\n (ii) as amended from time to time, until the earliest time that any provision of the State’s referral law commences.\n (2) For the purposes of this Division, the primary version of this Act is the relevant version of this Act, excluding Divisions 2 and 3 of Part 2, subparagraph 24(1)(a)(ii), paragraphs 25(3)(b) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to cooperating States and withdrawn States).\n (3) For the purposes of this Division, the residual version of this Act is the relevant version of this Act, excluding Divisions 1 and 3 of Part 2, subparagraph 24(1)(a)(i), paragraphs 25(3)(a) and (c) and section 38 (which deal with the functions and powers of Housing Australia in relation to participating States, Territories and withdrawn States).\n\n#### Subdivision B—Definitions of primary, residual and amendment matters\n\n#### 32 Meaning of primary matters\n\n (1) For the purposes of this Division, the primary matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred primary provisions relate, to the extent of making laws with respect to those matters by including the referred primary provisions in the relevant version of this Act.\n (3) The referred primary provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 2 or 3 of Part 2, subparagraph 24(1)(a)(ii), paragraph 25(3)(b) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to cooperating States or withdrawn States).\n\n#### 33 Meaning of residual matters\n\n (1) For the purposes of this Division, the residual matters are the matters covered by subsection (2).\n (2) This subsection covers the matters to which the referred residual provisions relate, to the extent of making laws with respect to those matters by including the referred residual provisions in the relevant version of this Act.\n (3) The referred residual provisions:\n (a) subject to paragraph (b), are the provisions of the relevant version of this Act, to the extent that they deal with matters that are included in the legislative powers of the Parliaments of the States; and\n (b) do not include Division 1 or 3 of Part 2, subparagraph 24(1)(a)(i), paragraph 25(3)(a) or (c) or section 38 of the relevant version of this Act (which deals with the functions and powers of Housing Australia in relation to participating States and Territories or withdrawn States).\n\n#### 34 Meaning of amendment matters\n\n Meaning of amendment matters\n (1) For the purposes of this Division, the amendment matters are the matters covered by subsection (2).\n (2) Subject to subsection (3), this subsection covers the following matters, to the extent of making laws with respect to those matters by making express amendments of this Act:\n (a) matters relating to the provision of Commonwealth financial assistance for the purpose of assisting individuals to buy a home, where the financial assistance is provided under a Help to Buy arrangement that:\n (i) relates to residential property located in a State; and\n (ii) is entered into while the State is a participating State;\n (b) without limiting paragraph (a)—matters relating to:\n (i) entering into Help to Buy arrangements that satisfy the conditions in subparagraphs (a)(i) and (ii); and\n (ii) administering Help to Buy arrangements of that kind; and\n (iii) monitoring compliance with Help to Buy arrangements of that kind; and\n (iv) doing anything incidental or conducive to anything mentioned in subparagraph (i), (ii) or (iii).\n (3) A reference in subsection (2) to making laws does not include a reference to making laws that would have the effect of:\n (a) giving Housing Australia, after a State stops being a participating State, the function of entering into, or the power to enter into, shared equity arrangements that relate to residential property located in the State; or\n (b) substantively removing or overriding:\n (i) a provision of this Act that requires approval of the State before certain things are done; or\n (ii) section 41, 41A or 42 of this Act.\n Meaning of express amendment\n (4) Subject to subsection (5), express amendment is the direct amendment of the text of this Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter).\n (5) To avoid doubt, the enactment by a Commonwealth Act of a provision that has, or will have, substantive effect otherwise than as part of the text of this Act is not express amendment.\n\n#### Subdivision C—Definitions of participating, cooperating and withdrawn States\n\n#### 35 Meaning of participating State\n\n When a State is a participating State\n (1) For the purposes of this Act, a State is a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) refers the primary matters to the Commonwealth Parliament; and\n (b) refers the residual matters to the Commonwealth Parliament; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (2) A State is also a participating State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State:\n (a) adopts the primary version of this Act; and\n (b) adopts the residual version of this Act; and\n (c) refers the amendment matters to the Commonwealth Parliament.\n (3) A State is a participating State under subsection (1) or (2) even if the State’s referral law, or another law of the State, provides that:\n (a) a reference mentioned in subsection (1) or (2) is to terminate in particular circumstances; or\n (b) an adoption mentioned in subsection (2) is to terminate in particular circumstances; or\n (c) a reference mentioned in subsection (1) or (2) has effect only:\n (i) if, and to the extent that, the matters referred are not included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or\n (ii) if, and to the extent that, the matters referred are included in the legislative powers of the Parliament of the State.\n When a State stops being a participating State\n (4) A State stops being a participating State if:\n (a) in a case where the State is a participating State under subsection (1)—a reference mentioned in that subsection terminates; or\n (b) in a case where the State is a participating State under subsection (2)—an adoption, or the reference, mentioned in that subsection terminates.\n\n#### 36 Meaning of cooperating State\n\n When a State is a cooperating State\n (1) For the purposes of this Act, a State is a cooperating State if the State:\n (a) was a participating State under subsection 35(1); and\n (b) has stopped being a participating State because it terminated its reference of the primary matters; and\n (c) has not terminated its reference of the residual matters; and\n (d) has not terminated its reference of the amendment matters.\n (2) A State is also a cooperating State if the State:\n (a) was a participating State under subsection 35(2); and\n (b) has stopped being a participating State because it terminated its adoption of the primary version of this Act; and\n (c) has not terminated its adoption of the residual version of this Act; and\n (d) has not terminated its reference of the amendment matters.\n When a State stops being a cooperating State\n (3) A State stops being a cooperating State if:\n (a) in a case where the State is a cooperating State under subsection (1) of this section—a reference mentioned in paragraph (1)(c) or (d) terminates; or\n (b) in a case where the State is a cooperating State under subsection (2)—the adoption mentioned in paragraph (2)(c), or the reference mentioned in paragraph (2)(d), terminates.\n\n#### 37 Meaning of withdrawn State\n\n (1) For the purposes of this Act, a State is a withdrawn State if the State:\n (a) has stopped being a participating State; and\n (b) is not a cooperating State.\n (2) To avoid doubt, subsection (1) applies whether:\n (a) the State became a cooperating State when it stopped being a participating State, but has since stopped being a cooperating State; or\n (b) the State was never a cooperating State.\n\n#### Subdivision D—Constitutional basis of provisions relating to withdrawn States\n\n#### 38 Constitutional basis of provisions relating to withdrawn States\n\n (1) The provisions mentioned in subsection (2) rely on the legislative powers that the Commonwealth Parliament has under the Constitution (other than paragraph 51(xxxvii) of the Constitution), including the legislative power that the Parliament has under the Constitution with respect to:\n (a) the executive power of the Commonwealth (including matters incidental to the execution of the executive power of the Commonwealth); or\n (b) matters incidental to the execution of any of the legislative powers of the Parliament.\n (2) For the purposes of subsection (1), the provisions are:\n (a) Division 3 of Part 2; and\n (b) paragraph 25(3)(c); and\n (c) the other provisions of this Act, to the extent the other provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State; and\n (d) the provisions of the Housing Australia Act 2018, to the extent the provisions relate to Housing Australia performing its functions under this Act in relation to a withdrawn State.\n\n### Division 2—Interaction with other laws\n\n#### Subdivision A—Interaction with other Commonwealth laws\n\n#### 39 Interaction with the Housing Australia Act 2018\n\n This Act does not limit the Housing Australia Act 2018.\n\n#### 40 Application of the Lands Acquisition Act 1989\n\n The Lands Acquisition Act 1989 does not apply in relation to anything done under this Act.\n\n#### Subdivision B—Interaction with State and Territory laws\n\n#### 41 Concurrent operation of State and Territory laws\n\n (1) This Act is not intended to exclude or limit the operation of a law of a State or Territory to the extent that the law is capable of operating concurrently with this Act.\n (2) Without limiting subsection (1), this Act is not intended to exclude or limit the concurrent operation of a State or Territory home buyer scheme law merely because the law relates to a State or Territory home buyer scheme.\n (3) This section does not apply to a law of a State or Territory if there is a direct inconsistency between this Act and that law.\n\n> Note: Section 42 prevents inconsistencies arising in some cases by limiting the operation of the Help to Buy program.\n\n#### 41A When Help to Buy program does not apply—exclusion by law of State or Territory\n\n (1) This section applies if a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory declares a matter to be an excluded matter for the purposes of this section in relation to:\n (a) the whole of the Help to Buy program; or\n (b) a specified provision of the Help to Buy program; or\n (c) the Help to Buy program, other than a specified provision; or\n (d) the Help to Buy program, otherwise than to a specified extent.\n (2) The Help to Buy program, other than the provisions mentioned in section 42B, does not apply in relation to the excluded matter to the extent provided by the declaration.\n\n> Note: This subsection has effect subject to subsection (3) and section 42C.\n\n (3) Subsection (2) does not apply to a declaration to the extent (if any) prescribed by the regulations.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42 Avoiding inconsistency with State and Territory laws\n\n (1) This section has effect despite anything else in the Help to Buy program.\n (2) Subsection (4) does not apply to a provision of a law of a State or Territory that is capable of concurrent operation with the Help to Buy program.\n\n> Note: This kind of provision is dealt with by section 41.\n\n (3) Subsection (4) applies to the interaction between:\n (a) a provision of a law of a participating State, a cooperating State, the Australian Capital Territory or the Northern Territory (the displacement provision); and\n (b) a provision of the Help to Buy program (the Commonwealth provision), other than a provision mentioned in section 42B;\n only if the displacement provision is declared by a law of the State or Territory to be a Help to Buy program displacement provision for the purposes of this section (either generally or specifically in relation to the Commonwealth provision).\n (4) The Commonwealth provision does not operate in, or in relation to, the State or Territory to the extent necessary to ensure that no inconsistency arises between:\n (a) the Commonwealth provision; and\n (b) the displacement provision to the extent to which the displacement provision would, apart from this subsection, be inconsistent with the Commonwealth provision.\n\n> Note 1: The operation of the displacement provision will be supported by section 41 to the extent to which it can operate concurrently with the Commonwealth provision.\n\n> Note 2: This subsection has effect subject to subsection (5) and section 42C.\n\n (5) Subsection (4) does not apply in relation to the displacement provision to the extent to which the regulations provide that the subsection does not apply in relation to the displacement provision.\n\n> Note: See also section 42A (when declarations and regulations may take effect).\n\n#### 42A Declarations and regulations\n\n Declarations\n (1) For the purposes of this Subdivision, a declaration by a law of a State or Territory (the declaring law) that:\n (a) a matter is an excluded matter for the purposes of section 41A; or\n (b) a provision of a law of the State or Territory is a Help to Buy program displacement provision for the purposes of section 42;\n takes effect at the later of the following times, if the declaration would otherwise take effect before that time:\n (c) the commencement of this Act;\n (d) when the declaring law is enacted or made.\n Regulations\n (2) Subsection 12(2) of the Legislation Act 2003 (retrospective application) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5) of this Act.\n (3) Section 46 (approval of States and Territories required for regulations) does not apply in relation to regulations made for the purposes of subsection 41A(3) or 42(5).\n\n#### 42B Excluded provisions\n\n A reference in subsection 41A(2) or 42(3) of this Act to the Help to Buy program does not include a reference to:\n (a) Part 4 of this Act (finance); or\n (b) this Division; or\n (c) Division 3 of this Part (other miscellaneous matters); or\n (d) regulations made for the purposes of a provision mentioned in paragraph (a), (b) or (c) of this section; or\n (e) a legislative instrument (other than regulations) made under a provision mentioned in paragraph (a), (b) or (c).\n\n#### 42C Preservation of Commonwealth entitlement and security\n\n (1) If:\n (a) disregarding sections 41A and 42 and this section, Housing Australia, on behalf of the Commonwealth:\n (i) is entitled under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement; or\n (ii) under a Help to Buy arrangement, secures such an entitlement by means of a mortgage or other right relating to a residential property; and\n (b) apart from this subsection, an effect of section 41A or 42 would be:\n (i) that Housing Australia is not entitled to that return, or does not secure that entitlement in that way; or\n (ii) to diminish or restrict that entitlement or security or Housing Australia’s functions or powers in relation to that entitlement or security;\n section 41A or 42 does not apply to the extent that it would otherwise have the effect described in paragraph (b) of this subsection.\n (2) To avoid doubt, in subsection (1):\n (a) a reference to a Help to Buy arrangement includes a reference to a Help to Buy arrangement that Housing Australia would be taken to have entered into if section 41A or 42 were disregarded; and\n (b) a reference to a contribution made under a Help to Buy arrangement includes a reference to a contribution Housing Australia would be taken to have made, on behalf of the Commonwealth, under a Help to Buy arrangement if section 41A or 42 were disregarded; and\n (c) a reference to Housing Australia’s functions or powers in relation to an entitlement or security includes a reference to Housing Australia’s functions or powers in relation to a Help to Buy arrangement, to the extent that the Help to Buy arrangement relates to the entitlement or security.\n\n#### 42D Modification of Help to Buy program\n\n (1) Subject to subsection (3) of this section, the Minister may, by legislative instrument, modify the operation of the Help to Buy program if the Minister is satisfied that modification is necessary or desirable because of the effect of section 41A or 42 on the operation of a provision of the Help to Buy program.\n (2) To avoid doubt:\n (a) without limiting subsection (1) of this section, the Minister may make an instrument under that subsection because of an effect that section 41A or 42 might or will have in the future; and\n (b) a modification made by such an instrument must not commence before section 41A or 42 begins to have that effect.\n (3) To avoid doubt, a legislative instrument made under subsection (1) of this section may not do the following:\n (a) create an offence or civil penalty;\n (b) provide powers of:\n (i) arrest or detention; or\n (ii) entry, search or seizure;\n (c) impose a tax;\n (d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;\n (e) directly amend the text of this Act;\n (f) substantively remove or override section 41A or 42.\n\n### Division 3—Other matters\n\n#### 43 Review by Administrative Review Tribunal\n\n The regulations may provide that applications may be made to the Administrative Review Tribunal for review of specified decisions of Housing Australia made in the performance of its functions mentioned in sections 10 and 15.\n\n#### 44 Matters to be included in annual reports\n\n The annual report prepared by the Board and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include particulars of:\n (a) any changes to the Help to Buy Program Directions during the period; and\n (b) the impact of the changes on the operations of Housing Australia.\n\n> Note 1: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.\n\n> Note 2: See also section 56 of the Housing Australia Act 2018 and subsection 25(3) of this Act.\n\n#### 45 Review of operation of Help to Buy program\n\n (1) The Minister must cause a review of the operation of the Help to Buy program to be undertaken as soon as possible after the end of 3 years after the commencement of this Part.\n (2) The persons undertaking the review must give the Minister a written report of the review. The report must not include:\n (a) personal information (within the meaning of the Privacy Act 1988); or\n (b) information that is commercially sensitive.\n (3) The Minister must cause a copy of the report of the review to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.\n\n### Division 4—Legislative instruments\n\n#### 46 Approval of States and Territories required for regulations and other legislative instruments\n\n (1) The Governor‑General must not make regulations under this Act (including regulations amending other regulations made under this Act), and the Minister must not make a legislative instrument under this Act (including a legislative instrument amending another legislative instrument made under this Act), unless the Minister is satisfied that:\n (a) each State and Territory to which subsection (2) applies has been notified in writing of the proposal to make the regulations or legislative instrument; and\n (b) the following consultation period has ended:\n (i) if the extended consultation period does not apply—the minimum consultation period;\n (ii) if the extended consultation period applies—the extended consultation period; and\n (c) during that consultation period none of those States and Territories objected, by written notice given to the Minister, to the making of the regulations or legislative instrument.\n (2) This subsection applies to:\n (a) each State that, when the regulations or legislative instrument is made, is a participating State or a cooperating State; and\n (b) the Australian Capital Territory; and\n (c) the Northern Territory.\n Consultation periods\n (3) The minimum consultation period is the period that:\n (a) started when a State or Territory was first notified of the proposal as mentioned in paragraph (1)(a); and\n (b) ended on the 20th business day after the last day on which a State or Territory was notified as mentioned in that paragraph.\n (4) For the purposes of paragraph (1)(b), the extended consultation period applies if:\n (a) the regulations or legislative instrument amends other regulations or another legislative instrument; and\n (b) during the period that:\n (i) started at the start of the minimum consultation period; and\n (ii) ended on the tenth business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a);\n a State or Territory to which subsection (2) applies gave to the Minister written notice that the State or Territory required an additional 15 business days to consider the proposal.\n (5) The extended consultation period is the period that:\n (a) started at the start of the minimum consultation period; and\n (b) ended on the 35th business day after the last day on which a State or Territory was notified of the proposal as mentioned in paragraph (1)(a).\n Making objections\n (6) For the purposes of paragraph (1)(c), the Minister must disregard an objection by a State or Territory if:\n (a) the objection was not made by written notice given to the Minister; or\n (b) without limiting paragraph (a) of this subsection—any law of the State or Territory relating to the making of such an objection was not complied with in relation to the objection.\n Consultation requirements under the Legislation Act 2003\n (7) This section does not limit section 17 of the Legislation Act 2003.\n\n#### 47 Regulations\n\n (1) The Governor‑General may make regulations prescribing matters:\n (a) required or permitted by this Act to be prescribed by the regulations; or\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n> Note 1: Section 10 of the Legislation Act 2003 declares regulations to be legislative instruments.\n\n> Note 2: See also section 46 of this Act.\n\n (2) Despite subsection 14(2) of the Legislation Act 2003, the regulations may apply, adopt or incorporate any matter contained in the Help to Buy Program Directions as in force or existing from time to time.\n\n## Part 6—Application and transitional provisions\n\n### Division 1—Provisions relating to this Act as originally enacted\n\n#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":73},{"sectionNumber":"48","sectionType":"section","heading":"Consultation may occur wholly or partly before commencement","content":"#### 48 Consultation may occur wholly or partly before commencement\n\n A reference in section 46 to a notice being given includes a reference to the notice being given before the commencement of this section.","sortOrder":75}],"analysis":{"summary":{"complexity_score":8,"scope_assessment":{"changed":false,"description":"The Act's scope is consistent with its stated object: establishing a shared equity home-buying scheme for low- and middle-income Australians administered by Housing Australia. The complexity of the Act largely reflects necessary constitutional architecture (State referral mechanisms) and federalism management rather than scope creep. The core purpose — government co-investment in residential property to assist buyers — remains coherent throughout. However, the substantial amount of detail delegated to future Directions and regulations means the full practical scope of the scheme (eligibility, property price caps, contribution limits) is not yet determined by the Act itself."},"complexity_factors":["Relies heavily on constitutional 'referral of powers' mechanism (s51(xxxvii) of the Constitution), requiring States to legislatively refer or adopt powers before the scheme can operate in their jurisdiction","Three distinct categories of State participation (participating, cooperating, withdrawn) each with different legal consequences, powers, and limitations for Housing Australia","Intricate interplay between Commonwealth and State laws — multiple sections (41, 41A, 42, 42A–42D) deal with avoiding inconsistency, displacement provisions, excluded matters, and preservation of Commonwealth entitlements","Key operational detail (eligibility, contribution amounts, property caps) deliberately left to subordinate instruments (regulations and Help to Buy Program Directions) rather than included in the Act itself","Multi-layered consultation requirements before any regulation or legislative instrument can be made, including tiered minimum and extended consultation periods","Separate constitutional basis provisions for 'withdrawn States' (s38) acknowledging that different constitutional heads of power apply depending on a State's participation status","Provisions governing what counts as 'entering into', 'varying', or 'administering' an arrangement are technically complex and have significant legal consequences","Interaction with multiple other Commonwealth Acts (Housing Australia Act 2018, National Consumer Credit Protection Act 2009, Public Governance Performance and Accountability Act 2013, Lands Acquisition Act 1989, Legislation Act 2003)"],"plain_english_summary":"The Help to Buy Act 2024 establishes a federal shared‑equity scheme run by Housing Australia that helps low‑ and middle‑income Australians buy homes by the Commonwealth co‑purchasing a stake, reducing required deposit and mortgage. The government later recoups its share plus a return tied to property value change. Participation by States is voluntary; the Act requires consultation, annual reporting and a review within three years."},"kimi_summary":{"_metrics":{"completionTokens":591},"content_quality":"ok","complexity_score":8,"scope_assessment":{"changed":false,"description":"The legislation appears to be operating within its original scope as a shared equity housing scheme. The complexity around state participation tiers and constitutional arrangements is inherent to the scheme's design rather than scope creep."},"complexity_factors":["Three-tier state participation system (participating/cooperating/withdrawn) with different legal consequences for each","Extensive cross-referencing to constitutional provisions (s 51(xxxvii)) and the Housing Australia Act 2018","Multiple defined terms with nested definitions (e.g. 'Help to Buy arrangement' → 'shared equity arrangement' → 'residential property' → National Credit Code)","Complex interaction provisions with State/Territory laws (ss 41-42D) including exclusion declarations and displacement provisions","Legislative instrument requirements with mandatory consultation periods (minimum 20 business days, extended to 35 in some cases)","Three different 'versions' of the Act defined for constitutional purposes (primary, residual, relevant versions)","Detailed limitations on Minister's directions and modification powers (ss 26, 42D)","Finance provisions with specific appropriation and repayment mechanisms"],"plain_english_summary":"## What this Act does\n\nThe **Help to Buy Act 2024** creates a federal scheme to help low and middle-income Australians buy homes through **shared equity arrangements**.\n\n### How it works\n- **Housing Australia** (a Commonwealth body) enters into agreements with homebuyers where the government contributes part of the purchase price\n- In return, the government gets a **share of the property's value** when it's sold or refinanced\n- The government secures its interest with a **mortgage** over the property\n\n### Who can participate\n- **States** must \"opt in\" by referring powers to the Commonwealth under the Constitution (section 51(xxxvii))\n- **Territories** (ACT and NT) are automatically covered\n- States can be:\n - **Participating States** — full scheme operates, new arrangements can be entered\n - **Cooperating States** — only existing arrangements are administered, no new ones\n - **Withdrawn States** — only existing arrangements are administered, no new contributions\n\n### Key features\n- The **Minister** sets detailed rules through **Help to Buy Program Directions** (a legislative instrument)\n- The **Commonwealth** funds Housing Australia's contributions and receives all returns\n- **State and Territory laws** can operate concurrently, but Commonwealth law prevails if directly inconsistent\n- States must be **consulted** before regulations or legislative instruments are made\n\n### Why it matters\nThis is a significant expansion of federal involvement in housing policy, using constitutional referral powers to create a national shared equity scheme that operates differently depending on each State's level of participation."},"issue_detection":{"absurdities":[{"type":"circular_definition","section":"6(1) and 10(1)(a)","severity":"medium","reasoning":"Section 6(1) defines a Help to Buy arrangement by reference to the performance of the function in s10(1)(a). Section 10(1)(a) defines that function as entering into shared equity arrangements 'for the purpose of improving housing outcomes for Australians in the way described in section 3'. The arrangement's character as a 'Help to Buy arrangement' is therefore determined by the purpose of the function being performed when entering it, which is itself defined partly by reference to what makes something a Help to Buy arrangement. This creates a definitional loop that makes it difficult to determine whether any given arrangement is a Help to Buy arrangement without already knowing it is one.","confidence":0.72,"description":"Circular definition: A 'Help to Buy arrangement' is defined as a shared equity arrangement entered into in the performance of Housing Australia's function mentioned in paragraph 10(1)(a), but that function is itself defined as the function of entering into shared equity arrangements in relation to residential property for the purpose of the Act. The definition of 'Help to Buy arrangement' depends on the function being performed, which itself depends on what constitutes a Help to Buy arrangement."},{"type":"impossible_compliance","section":"12 and 24(4)","severity":"medium","reasoning":"The sequence is: directions must be in force (s12) before any arrangement can be entered; the Minister must give at least one direction (s24(4)); but to give any direction, the Minister must complete a multi-week consultation with participating States and Territories (s46). If no State has yet referred the relevant matters, there are no participating States to consult, meaning s46(2)(a) applies to an empty set and the condition in s46(1)(c) is vacuously satisfied. However if there ARE participating States, the consultation requirement creates a mandatory delay before any activity can occur, during which the Act imposes obligations on Housing Australia (e.g. s10(3)) that cannot be meaningfully discharged.","confidence":0.65,"description":"Impossible initial operation: Section 12 prohibits Housing Australia from entering into any Help to Buy arrangement unless directions of the kind in subparagraph 24(1)(a)(i) are in force. Section 24(4) requires the Minister to give at least one such direction. However, under section 46, the Minister cannot make a legislative instrument (including Help to Buy Program Directions) without first completing a consultation process requiring notification of all participating/cooperating States and Territories and waiting the full consultation period with no objections. This means the program cannot operate until the consultation process is completed, but the consultation process itself presupposes the existence of participating States, creating a bootstrapping problem where the Act is operationally inert until an external precondition is met that the Act itself does not fully control."},{"type":"circular_definition","section":"20(1)(b) and 15(1)(c)/10(1)(e)","severity":"low","reasoning":"Each of the three main function-conferring sections (ss10, 15, 20) includes a catch-all paragraph that confers 'any other functions conferred on Housing Australia by this Act' (disregarding the other two function sections). Since the catch-all paragraph is itself a provision of this Act, it technically confers itself as a function, which is logically incoherent. While courts would likely read this purposively, it is a structural drafting absurdity.","confidence":0.6,"description":"Recursive function definition: Section 20(1)(b) gives Housing Australia, in relation to withdrawn States, 'any other functions conferred on Housing Australia by this Act (disregarding sections 10 and 15), to the extent that they relate to a withdrawn State.' This means s20(1)(b) itself is one of the functions it is purporting to confer, creating a self-referential loop. The same structure appears in ss10(1)(e) and 15(1)(c)."},{"type":"impossible_compliance","section":"22(2) and 20(1)(a)","severity":"high","reasoning":"A shared equity arrangement by definition (s7(1)(a)(i)) involves Housing Australia contributing part of the cost of acquiring property. Such arrangements may contemplate staged contributions or drawdowns. In a withdrawn State, Housing Australia must administer the arrangement (s20(1)(a)) and may do what the arrangement requires (s21(1)), but s22(2) categorically removes the power to make contributions. This creates an irreconcilable conflict between the obligation to administer and the prohibition on contributing, potentially leaving Housing Australia unable to fulfil contractual obligations to homebuyers who entered arrangements in good faith.","confidence":0.82,"description":"Function without power: Section 20(1)(a) gives Housing Australia the function of administering Help to Buy arrangements in withdrawn States, but section 22(2) expressly removes the power to make any further contributions under those arrangements. Administration of a shared equity arrangement without the ability to make contributions may be practically impossible or hollow, as contributions may be required under the terms of existing arrangements, and s21(1) only allows Housing Australia to do what the arrangement 'permits or requires'. If an existing arrangement requires further contributions, Housing Australia has the function to administer it but is statutorily prohibited from fulfilling a core obligation under it."},{"type":"impossible_compliance","section":"45(2)","severity":"medium","reasoning":"The Privacy Act 1988 definition of 'personal information' is broad and would cover information about individual applicants, approvals, terms of arrangements, and outcomes. Commercial sensitivity could cover pricing, contribution levels, and property valuations. Together these exclusions could hollow out the review, making the mandatory review requirement effectively a requirement to produce an uninformative document, undermining the accountability purpose of s45.","confidence":0.7,"description":"Review report exclusions may render the report meaningless: The section requires a review of the Help to Buy program but mandates that the report must exclude all personal information and all commercially sensitive information. Given that the program's entire operation involves individual financial arrangements (shared equity deals with specific persons relating to specific properties), almost all operationally meaningful data about how the program is working could qualify as personal information or commercially sensitive, potentially producing a review report with no substantive content."},{"type":"self_contradicting","section":"46(1) and 42A(3)","severity":"high","reasoning":"The Act's architecture is built on cooperative federalism with consultation requirements. Section 46 is a cornerstone protection for States and Territories. The carve-out in s42A(3) allows the Commonwealth to use regulations — without any State/Territory input — to neutralise State/Territory laws that those jurisdictions specifically enacted to manage the interaction with the Help to Buy program. This directly undermines the cooperative framework the Act purports to establish and is internally contradictory with the Act's federalism architecture.","confidence":0.78,"description":"Self-exempting regulation power creates unilateral Commonwealth override: Section 46 requires State/Territory approval before any regulation is made. Section 42A(3) exempts regulations made under ss41A(3) and 42(5) from this requirement. Those regulations allow the Commonwealth to unilaterally override State/Territory declarations that exclude the Help to Buy program or declare displacement provisions. This means the Commonwealth can, without any State or Territory consultation or approval, make regulations that neutralise State/Territory laws that were themselves designed to limit or displace the Help to Buy program — effectively allowing the Commonwealth to override the cooperative federalism protections built into the Act."},{"type":"other","section":"31(1)(a) and (b)","severity":"medium","reasoning":"This is not a logical impossibility but produces an absurd outcome: early-adopting States (who supported the scheme from the outset) are paradoxically disadvantaged by being locked to the original version of the Act, while later-adopting States get the benefit of all amendments made before their referral law commences. This creates a perverse incentive to delay referral and an unequal constitutional footing between States.","confidence":0.68,"description":"Temporal paradox in 'relevant version' definition: Section 31(1)(a) provides that if, at the time a State's referral law was enacted, this Act had not been enacted, the relevant version is this Act as originally enacted. Section 31(1)(b) provides that otherwise the relevant version includes amendments up until the earliest time any provision of the referral law commences. This creates an absurdity: if a State enacts its referral law before this Act, the relevant version is fixed at the original Act forever. But if the State enacts its referral law after this Act, the relevant version includes subsequent amendments to this Act. States that moved early are therefore locked into an earlier version of the Act than States that waited, creating differential treatment based purely on timing of referral."},{"type":"other","section":"Parts 1-6 (entire Act)","severity":"high","reasoning":"This is either a serious drafting/publishing error or a genuine structural defect in the Act as presented. If taken at face value as part of the Act, it creates profound interpretive difficulties — which version of any provision applies? Do the duplicated provisions create additional obligations, or are they surplusage? In practice courts would likely treat this as a publishing error, but as presented the Act is self-duplicating, which is a fundamental structural absurdity.","confidence":0.95,"description":"Entire Act duplicated verbatim: The legislation as presented contains a complete verbatim repetition of the entire Act beginning after section 48. The repeated text begins with 'Division 1 Preliminary / An Act to provide for Housing Australia...' and reproduces all provisions from s1 through to s46. This structural absurdity means the Act appears to contain two complete copies of itself, with no mechanism to reconcile or prioritise between them."}],"contradictions":[{"severity":"high","section_a":"22(2)","section_b":"21(1)(a) and (b)","confidence":0.85,"description":"Section 21(1) empowers Housing Australia to do anything a Help to Buy arrangement permits or requires it (or the Commonwealth) to do in a withdrawn State. Section 22(2) categorically prohibits Housing Australia from making any contribution under such an arrangement. If an existing arrangement requires further contributions (which is plausible given the shared equity model), these two provisions are directly contradictory: s21(1) authorises the action while s22(2) prohibits it."},{"severity":"medium","section_a":"26(2)(d)","section_b":"10(3)(b) and 12","confidence":0.72,"description":"Section 26(2)(d) prohibits the Minister from giving directions that require Housing Australia 'to take, or not to take, particular action relating to a Help to Buy arrangement.' However, s10(3)(b) requires Housing Australia to take all reasonable steps to comply with Help to Buy Program Directions, and s12 makes it a condition of entering any arrangement that certain directions are in force. The directions are the primary mechanism for controlling Housing Australia's conduct with respect to arrangements, yet s26(2)(d) bars the most specific and effective form of direction. This creates tension between the legislative intent to use directions to control the program and the prohibition on using them to control specific arrangement-related conduct."},{"severity":"medium","section_a":"41(3)","section_b":"42(1) and 42(4)","confidence":0.67,"description":"Section 41(3) says section 41 (concurrent operation) does not apply where there is a direct inconsistency between this Act and a State/Territory law. Section 42(1) says section 42 (avoiding inconsistency) has effect 'despite anything else in the Help to Buy program.' Section 42(4) then limits the operation of Commonwealth provisions to avoid inconsistency with declared displacement provisions. The combined effect is that: s41 steps aside for direct inconsistencies, s42 then steps in to resolve them by limiting Commonwealth provisions — but s42 only applies to declared displacement provisions, leaving a gap where there is a direct inconsistency with a non-declared provision, which neither s41 nor s42 addresses, potentially leaving an unresolvable conflict governed only by constitutional inconsistency principles."},{"severity":"high","section_a":"27(3)","section_b":"21(1)(a) and (b)","confidence":0.8,"description":"Section 27(3) requires Housing Australia to make contributions under Help to Buy arrangements only from amounts paid to it by the Commonwealth under s27(1). Section 21(1) empowers Housing Australia in withdrawn States to do anything the arrangement permits or requires the Commonwealth to do. If an arrangement requires the Commonwealth to make contributions, s21(1) authorises Housing Australia to fulfil that obligation, but s22(2) prohibits it from doing so. Meanwhile s27(3) restricts the source of any contributions to Commonwealth-provided funds. The combined effect of ss21(1), 22(2) and 27(3) is incoherent: Housing Australia is empowered to act as the Commonwealth but stripped of the specific power and funding mechanism needed to discharge the Commonwealth's core obligation."},{"severity":"medium","section_a":"46(1)(c)","section_b":"46(6)(b)","confidence":0.7,"description":"Section 46(1)(c) requires that during the consultation period none of the relevant States and Territories objected to the making of the regulations or instrument. Section 46(6)(b) requires the Minister to disregard an objection if any law of the State or Territory relating to the making of such an objection was not complied with. This creates a procedural trap: a State or Territory may wish to object and may communicate that objection, but if there is any procedural deficiency under its own internal law, the Minister must disregard it, and the condition in s46(1)(c) is then deemed satisfied. A State or Territory could thus be effectively silenced on a matter it opposes due to internal procedural technicalities, undermining the cooperative consent mechanism the provision purports to establish."},{"severity":"low","section_a":"3 (Object)","section_b":"26(2)(c)","confidence":0.58,"description":"The object of the Act (s3) is to assist 'low-income and middle-income individuals to buy homes.' Section 26(2)(c) prohibits the Minister from giving directions requiring Housing Australia to enter into a Help to Buy arrangement 'with a particular individual or individuals.' This means the Minister cannot direct Housing Australia to prioritise or include the very individuals the Act is designed to help, even if Housing Australia's decision-making processes are producing outcomes inconsistent with the statutory object. The prohibition on individual-specific directions undermines the Minister's ability to ensure the object of the Act is achieved."},{"severity":"low","section_a":"42D(2)(b)","section_b":"42D(1)","confidence":0.62,"description":"Section 42D(1) allows the Minister to make a modification instrument because of the effect section 41A or 42 'might or will have in the future' (confirmed by s42D(2)(a)). However, s42D(2)(b) provides that a modification 'must not commence before section 41A or 42 begins to have that effect.' This means the Minister can make an instrument anticipating a future effect that has not yet occurred, but that instrument cannot operate until the effect occurs. If the anticipated effect never materialises, the instrument is made but never operative, which raises questions about whether the power was validly exercised in the first place and whether the instrument remains valid indefinitely in suspension."}]}},"importantCases":[],"_links":{"self":"/api/acts/help-to-buy-act-2024","history":"/api/acts/help-to-buy-act-2024/history","analysis":"/api/acts/help-to-buy-act-2024/analysis","conflicts":"/api/acts/help-to-buy-act-2024/conflicts","importantCases":"/api/acts/help-to-buy-act-2024/important-cases","documents":"/api/acts/help-to-buy-act-2024/documents"}}