51Guarantee by Commonwealth

51 Guarantee by Commonwealth

(1) Subject to subsection (2), the due payment by Housing Australia of any money that becomes payable by Housing Australia to a person other than the Commonwealth is guaranteed by the Commonwealth. (2) Subsection (1) does not apply in relation to money that becomes payable in relation to a contract entered into on or after the day (not earlier than 1 July 2028) determined under subsection (3).

Note: The guarantee will continue to apply in relation to contracts entered into before the determined day.

(3) The Minister may, by legislative instrument, determine a day for the purposes of subsection (2). The day must not be a day occurring earlier than 60 days after the instrument is registered under the Legislation Act 2003.