Housing Australia Investment Mandate Amendment (2024 Measures No. 3) Direction 2024

I, Clare O’Neil, Minister for Housing and Minister for Homelessness, make the following direction.

Dated   13 December 2024

Clare O’Neil

Contents

1  Name 

2  Commencement

3  Authority

4  Schedules

Schedule 1—Amendments

Housing Australia Investment Mandate Direction 2018

1  Name

  This instrument is the Housing Australia Investment Mandate Amendment (2024 Measures No. 3) Direction 2024.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Housing Australia Act 2018.

4  Schedules

  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Housing Australia Investment Mandate Direction 2018

1  Subsection 28N(3)

Omit “$1.531 billion”, substitute “$1.735 billion”.

2  Subsection 28N(5)

Omit “$288 million” (wherever occurring), substitute “$368 million”.

3  Subsection 28ZA(3)

Omit “$383 million”, substitute “$179 million”.

4  Section 34 (heading)

Omit “$10 billion”, substitute “the prescribed amount”.

5  Subsection 34(1)

Omit “$10 billion”, substitute “$26 billion”.

6  At the end of Part 7

Add:

Division 8—Transitional rule—HAFFF round 2 applications

43 Transitional—applications made on or after commencement and before 1 March 2025

 (1) This section applies in relation to an application made on or after the commencement day, and before 1 March 2025, for the making of a loan or grant under the HAFFF.

 (2) However, this section does not apply to an application made on or after the commencement day, and before 1 March 2025, if:

 (a) the application relates to another application (the earlier application) that was made before the commencement day; and

 (b) the earlier application is still being considered by Housing Australia at the time the application is made.

 (3) Despite section 28C, Housing Australia must not consider an application from an entity for the making of a loan or grant under the HAFFF unless the entity is, or is applying together with:

 (a) a State or Territory (paragraph 28F(1)(a)); or

 (b) a State-government-owned corporation (other than a utility provider) that is a constitutional corporation (paragraph 28F(1)(d)); or

 (c) a Territory-government-owned corporation (other than a utility provider) that is a constitutional corporation (paragraph 28F(1)(e)).

 (4) In this section:

commencement day means the day on which the Housing Australia Investment Mandate Amendment (2024 Measures No. 3) Direction 2024 commences.