10Help to Buy functions of Housing Australia—participating States and Territories

10 Help to Buy functions of Housing Australia—participating States and Territories

Functions (1) Housing Australia has the following functions under this Act: (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; (b) to determine terms and conditions for such arrangements on behalf of the Commonwealth; (c) to administer such arrangements on behalf of the Commonwealth; (d) to monitor compliance with such arrangements; (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; (f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph; (g) to do anything incidental or conducive to the performance of the above functions. (2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to: (a) providing information to Housing Australia; or (b) terminating Help to Buy arrangements; or (c) consequences of non‑compliance with Help to Buy arrangements. Obligation to act properly, efficiently and effectively etc. (3) In performing a function mentioned in subsection (1), Housing Australia must: (a) act in a proper, efficient and effective manner; and (b) take all reasonable steps to comply with the Help to Buy Program Directions.