Commonwealth Consolidated Acts Commonwealth Consolidated ActsFunctions
(1) Housing Australia has the following functions under this Act:
(a) to enter, on behalf of the Commonwealth, into shared equity arrangements in relation to residential property located in a participating State or a Territory, for the purpose of improving housing outcomes for Australians in the way described in section 3;
(b) to determine terms and conditions for such arrangements on behalf of the Commonwealth;
(c) to administer such arrangements on behalf of the Commonwealth;
(d) to monitor compliance with such arrangements;
(e) any other functions conferred on Housing Australia by this Act (disregarding sections 15 and 20), to the extent that they relate to a participating State or a Territory;
(f) any other functions, relating to a participating State or a Territory, prescribed by the regulations for the purposes of this paragraph;
(g) to do anything incidental or conducive to the performance of the above functions.
(2) To avoid doubt, the terms and conditions mentioned in paragraph (1)(b) include terms and conditions relating to:
(a) providing information to Housing Australia; or
(b) terminating Help to Buy arrangements; or
(c) consequences of non - compliance with Help to Buy arrangements.
Obligation to act properly, efficiently and effectively etc.
(3) In performing a function mentioned in subsection (1), Housing Australia must:
(a) act in a proper, efficient and effective manner; and
(b) take all reasonable steps to comply with the Help to Buy Program Directions.