Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 79, 2023
Compilation No. 1
Compilation date: 6 July 2024
Includes amendments: Act No. 54, 2024
Registered: 13 July 2024
About this compilation
This compilation
This is a compilation of the Housing Australia Future Fund Act 2023 that shows the text of the law as amended and in force on 6 July 2024 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self-repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Part 1--Preliminary
1 Short title
2 Commencement
2A Object
3 Simplified outline of this Act
4 Definitions
5 Crown to be bound
6 Extension to external Territories
7 Extra-territorial application
Part 2--Housing Australia Future Fund
Division 1--Introduction
8 Simplified outline of this Part
Division 2--Establishment of the Housing Australia Future Fund and the Housing Australia Future Fund Special Account
9 Establishment of the Housing Australia Future Fund
10 Establishment of the Housing Australia Future Fund Special Account
Division 3--Credits of amounts to the Housing Australia Future Fund Special Account
11 Credits of amounts
Division 4--Debits of amounts from the Housing Australia Future Fund
12 Main purposes of the Housing Australia Future Fund Special Account
13 Purposes of the Housing Australia Future Fund Special Account--purposes related exclusively to the investments etc. of the Housing Australia Future Fund
14 Purposes of the Housing Australia Future Fund Special Account--purposes not related exclusively to the Housing Australia Future Fund
15 Future Fund Board must ensure that the balance of the Housing Australia Future Fund Special Account is sufficient to cover authorised debits etc.
16 Transfers from the Housing Australia Future Fund to the Future Fund
Part 3--Grants
Division 1--Introduction
17 Simplified outline of this Part
Division 2--Grants
18 Grants
19 Terms and conditions of grants
20 Designated Minister has powers etc. of the Commonwealth
21 Conferral of powers on a designated Minister
22 Constitutional limits--grants to persons or bodies other than a State or Territory
23 Executive power of the Commonwealth
24 Publication of information relating to grants
Division 3--Housing Australia Future Fund Payments Special Account
25 Housing Australia Future Fund Payments Special Account
26 Transfers from the Housing Australia Future Fund Special Account to the Housing Australia Future Fund Payments Special Account
27 Other credits to the Housing Australia Future Fund Payments Special Account
28 Purpose of the Housing Australia Future Fund Payments Special Account
Division 4--Channelling State/Territory grants through the Federation Reform Fund
29 Channelling State/Territory grants through the Federation Reform Fund
30 Debits from the Federation Reform Fund
31 Other credits to the Housing Australia Future Fund Special Account
Part 4--Transfers from the Housing Australia Future Fund Special Account to the Housing Australia Special Account
32 Simplified outline of this Part
33 Requested transfers from the Housing Australia Future Fund Special Account to the Housing Australia Special Account
33A Guaranteed transfers from the Housing Australia Future Fund Special Account to the Housing Australia Special Account
33B Meaning of designated annual amount
33C Determination of designated annual amount
33D Determination of designated annual amount--advice given by the Future Fund Board
33E Indexation of designated annual amount
34 Debits from the Housing Australia Special Account
Part 5--Limit on amounts debited from the Housing Australia Future Fund Special Account
35 Simplified outline of this Part
36 Limit on amounts debited from the Housing Australia Future Fund Special Account
Part 6--Investment of the Housing Australia Future Fund
37 Simplified outline of this Part
38 Objects of investment of the Housing Australia Future Fund
39 Investment of the Housing Australia Future Fund
40 Management of investments of the Housing Australia Future Fund
41 Housing Australia Future Fund Investment Mandate
42 Obligation on Future Fund Board in performing investment functions
43 Limitation on Housing Australia Future Fund Investment Mandate
44 Future Fund Board to be consulted on Housing Australia Future Fund Investment Mandate
45 Compliance with Housing Australia Future Fund Investment Mandate
46 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
47 Borrowing
48 Housing Australia Future Fund investment policies
49 Derivatives
50 Additional financial assets
51 Securities lending arrangements
52 Investment managers
53 Refund of franking credits
54 Realisation of non-financial assets
55 Additional function of the Future Fund Board
Part 7--Reporting obligations etc.
56 Simplified outline of this Part
57 Finance Minister may require Future Fund Board to prepare reports or give information
58 Keeping the responsible Ministers informed etc.
59 Finance Minister may give reports, documents and other information to other Ministers
Part 8--Miscellaneous
60 Simplified outline of this Part
61 Delegation by the Finance Minister
62 Delegation by the Treasurer
63 Delegation by a designated Minister
64 Delegation by the Housing Minister
65 Reviews of operation of Act
66 Rules
Endnotes
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub-subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev ... ) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
Sdiv = Subdivision(s) | |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub-Ch = Sub-Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
79, 2023 | 28 Sept 2023 | 1 Nov 2023 (s 2(1) item 1) |
| |
54, 2024 | 5 July 2024 | Sch 1 (items 20, 21, 29, 73-82): 6 July 2024 (s 2(1) item 2) | -- |
Provision affected | How affected |
Part 1 |
|
s 3..................... | am No 54, 2024 |
s 4..................... | am No 54, 2024 |
Part 2 |
|
Division 1 |
|
s 8..................... | am No 54, 2024 |
Division 4 |
|
s 12.................... | am No 54, 2024 |
Part 3 |
|
Division 1 |
|
s 17.................... | am No 54, 2024 |
Division 3 |
|
s 26.................... | am No 54, 2024 |
Division 4 |
|
Division 4 heading.......... | am No 54, 2024 |
s 29.................... | am No 54, 2024 |
s 30.................... | am No 54, 2024 |