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Housing Australia Investment Mandate Direction 2018
34Approval needed if liabilities to exceed the prescribed amount
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34 Approval needed if liabilities to exceed the prescribed amount
(1) The Board must not enter into a transaction which would result in the sum of: (a) the total guaranteed liabilities of Housing Australia; and (b) the current value of the AHBA reserve; exceeding $44 billion. (2) In this section:
total guaranteed liabilities of Housing Australia, at a particular time, means the sum of the current values of all amounts that are, or can be as a consequence of current liabilities of Housing Australia (other than guarantee liabilities) expected to be:
(a) payable to a person other than the Commonwealth; and
(b) guaranteed by the Commonwealth under section 51 of the Act.