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Monday, 24 May 1965

Senator PALTRIDGE - On 21st May Senator Wright in a question without notice asked me whether the Minister for Housing had specified the classes of mortgages which will be insured under the Housing Loans Insurance Act.

Under the Housing Loans Insurance Act, classes of insurable loans are to be prescribed by regulation, and the Minister for Housing is empowered to direct the Corporation not to enter into contracts of insurance except in respect of such of the prescribed classes of insurable loans as the Minister specifies.

The Minister for Housing informs me that the regulations prescribing the classes of insurable loans and certain other matters that are to be prescribed will not be made until after the members of the Corporation have been appointed and the initial planning and preparatory work have reached a more advanced stage. The first step is, of course, the appointment of the members of the Corporation and the Minister for Housing expects to announce the appointment of these members within the next week or so.

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