Commonwealth Consolidated Acts

HOUSING AUSTRALIA ACT 2018 - SECT 47B

    There must be credited to the Account amounts equal to the following:

  (a)   $105 million, to be credited on the day this section commences;

  (b)   $310 million, to be credited on 1   July 2019;

  (c)   $270 million, to be credited on 1   July 2020;

  (d)   $165 million, to be credited on 1   July 2021;

  (e)   each amount paid to the Commonwealth by Housing Australia, on or after the day this section commences, that:

  (i)   is a repayment of money debited from the Account, or of other money lent by the Commonwealth to Housing Australia (whether as described in subsection   50(1) or otherwise); and

  (ii)   is paid in accordance with the Investment Mandate.

Note 1:   For paragraphs   (a) and (e), this section commences on the day the National Housing Finance and Investment Corporation Amendment Act 2018 commences.

Note 2:   An Appropriation Act may contain a provision to the effect that, if any of the purposes of a special account is a purpose that is covered by an item in the Appropriation Act (whether or not the item expressly refers to the special account), then amounts may be debited against the appropriation for that item and credited to that special account.

Note 3:   An example of such an Appropriation Act is the Appropriation Act (No.   2) 2018 - 2019 . Under section   15 of that Act, it is expected that $150 million will be debited against the appropriation in that Act and credited to the Account.