National Housing Finance and Investment Corporation Bill 2018
On 28 Jun 2018, the National Housing Finance and Investment Corporation (NHFIC) bill was passed in both Houses of the federal parliament. The bill:
- establishes the NHFIC as a corporate Commonwealth entity to make loans and investments and issue grants, within constitutional limitations, to improve housing outcomes;
- provides for the appointment, functions and powers of the NHFIC Board, CEO, staff and consultants;
- enables and requires the minister, by legislative instrument, to give the board directions that together constitute the Investment Mandate; and
- specifies the arrangements for the NHFIC’s final affairs in relation to maintenance of adequate capital and reserves, payment of dividends, borrowings, Commonwealth guarantee and taxation.
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