8Functions of Housing Australia

8 Functions of Housing Australia

(1) The functions of Housing Australia are: (a) the financing function; and (b) the guarantee function; and (c) the capacity building function; and (ca) the Help to Buy functions; and (d) any other functions conferred on Housing Australia by this Act or any other Commonwealth law (other than the Help to Buy Act 2024); and (e) to do anything incidental or conducive to the performance of the above functions (other than the Help to Buy functions). Financing function (1A) Housing Australia’s financing function is to make loans and grants to: (a) constitutional corporations, where this: (i) is for the purpose of improving, directly or indirectly, housing outcomes; and (ii) assists the constitutional corporation in the performance or development of its activities, functions, relationships or business; and (b) States and Territories, where this: (i) is for the purpose of improving, directly or indirectly, housing outcomes; and (ii) is provided by way of a grant of financial assistance to the State or Territory; and (c) entities, where this is for the purpose of improving, directly or indirectly, housing outcomes: (i) in a Territory; or (ii) for Aboriginal or Torres Strait Islander people; or (iii) for members of the Australian Defence Force; or (iv) for aliens (within the meaning of paragraph 51(xix) of the Constitution). Guarantee function (1B) Housing Australia’s guarantee function is to issue guarantees to constitutional corporations, where this: (a) is for the purpose of improving housing outcomes; and (b) assists the constitutional corporation in the performance or development of its activities, functions, relationships or business. Capacity building function (1C) Housing Australia’s capacity building function is to provide business advisory services and other assistance in capacity building to: (a) registered community housing providers that are constitutional corporations, where this: (i) is for the purpose of improving housing outcomes; and (ii) assists the registered community housing provider in the performance or development of its activities, functions, relationships or business; and (b) registered community housing providers, where this is for the purpose of improving housing outcomes: (i) in a Territory; or (ii) for Aboriginal or Torres Strait Islander people; or (iii) for members of the Australian Defence Force; or (iv) for aliens (within the meaning of paragraph 51(xix) of the Constitution). Obligation to act properly, efficiently and effectively (3) In performing its functions, Housing Australia must act in a proper, efficient and effective manner. (4) Subsection (3) does not apply in relation to the Help to Buy functions.

Note: For how Housing Australia must perform the Help to Buy functions, see subsections 10(3), 15(2) and 20(2) of the Help to Buy Act 2024.