4Simplified outline of this Act

4 Simplified outline of this Act

This 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.

Note: A State that has stopped being a participating State is either a cooperating State or a withdrawn State.

In performing its Help to Buy functions, Housing Australia must take all reasonable steps to comply with the directions given by the Minister.

Housing 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.