29LReporting

29L Reporting

(1) As soon as practicable after the end of each successive 6 month period commencing on 1 January 2020, Housing Australia must report to the Minister on: (a) the status of each guarantee issued under the Home Guarantee Scheme; and (b) the operating costs of the Home Guarantee Scheme; and (ba) Housing Australia’s operating expenses for the Home Guarantee Scheme, including itemised details of expenditure on: (i) its directors; and (ii) its employees; and (iii) its consultants; and (iv) information technology systems; and (v) other significant expenditure; and (bb) the performance of loans in relation to which a guarantee has been issued, including information on: (i) the number of loans in arrears, and the amount of those arrears; and (ii) repayment progress; and (iii) applicable interest rates; and (c) the total value of guarantees issued under the Home Guarantee Scheme; and (ca) a summary of the data and information collected by Housing Australia under subsection (3) in relation to the 6 month period; and (cb) the number of guarantees issued under the Home Guarantee Scheme during the 6 month period; and (cc) for guarantees issued under the Home Guarantee Scheme in relation to dwellings located in regional areas—the following information in relation to the 6 month period: (i) the number of such guarantees issued; (ii) the number of borrowers; (iii) the number of dwellings purchased; (iv) the number of dwellings purchased in each Statistical Area Level 4 area; (d) any other information requested by the Minister. (2) A report under subsection (1) must separately include the matters listed in paragraphs (a), (b), (ba), (bb), (c), (ca), (cb) and (cc) in relation to First Home Guarantees, New Home Guarantees, Family Home Guarantees and Regional First Home Buyer Guarantees. (3) Housing Australia must collect data and information that would be of assistance in an evaluation of whether the Home Guarantee Scheme is effective in facilitating home buyers who are able to benefit from the scheme entering into the housing market sooner, including data and information about: (a) changes in the behaviour of such home buyers induced by the scheme; and (b) the effectiveness of the scheme in relation to different types of buyers. Counting of guarantees (4) For the purposes of this section: (a) a guarantee is issued in the financial year during which its issue is approved by Housing Australia, even if the arrangement relating to the guarantee is entered into in a later financial year; and (b) a guarantee issued in relation to a loan that satisfies subsection 29C(4) is disregarded.