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26    National Housing Finance and Investment Corporation Amendment Bill 2019

Order of the day read for the further consideration of the bill in committee of the whole.

 

 

In the committee

Consideration resumed of the bill.

Senator Lambie moved the following amendments together by leave:

Schedule 1, page 3 (after line 20), after item 4, insert:

4A  At the end of section 8

Add:

     (4)   In performing its function under paragraph (1)(ca), the number of guarantees issued by the NHFIC in a year must not be greater than the number (if any) specified in the rules for the purposes of this subsection.

     (5)   In relation to the NHFIC’s function under paragraph (1)(ca), the rules may provide that the NHFIC must not issue a guarantee in relation to a property if:

                              (a)  the property is in a specified class of properties; and

                              (b)  the value of the property is above the amount of value specified in, or worked out in accordance with, the rules for a property in that class.

Schedule 1, page 4 (after line 18), after item 11, insert:

11A  After paragraph 14(a)

Insert:

                            (aa)  that relates to a matter mentioned in subsections 8(4) and (5); or

11B  At the end of paragraph 14(b)

Add “or the rules”.

Debate ensued.

Question—That the amendments be agreed to—put and negatived.

On the motion of Senator Watt the following amendment was debated and agreed to:

Schedule 1, page 5 (after line 7), after item 15, insert:

15A  After section 57

Insert:

57A   Review of assistance to first home buyers

     (1)   The Minister must cause a review of the National Housing Finance and Investment Corporation’s activities assisting additional first home buyers to enter the housing market to be commenced within 3 months after the end of:

                              (a)  the period beginning on the date when the first guarantee is issued and ending 12 months after that date; and

                              (b)  each subsequent 12 month period.

     (2)   The persons undertaking the review must give the Minister a writt en report of the review within 3 months of the commencement of the review.

     (3)   The Minister must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.

Bill agreed to and reported with an amendment.

 

 

On the motion of the Assistant Minister for Superannuation, Financial Services and Financial Technology (Senator Hume) the report from the committee was adopted.

Senator Hume moved—That this bill be now read a third time.

Question put.

The Senate divided—

AYES, 34

Senators—

Abetz

Colbeck

McDonald

Scarr

Antic

Davey

McGrath

Seselja

Askew

Duniam

McMahon

Sinodinos

Ayres

Fierravanti-Wells

O’Sullivan

Smith, Dean

Bragg

Gallacher

Paterson

Sterle

Brockman*

Henderson

Patrick

Stoker

Brown

Hughes

Pratt

Van

Chandler

Hume

Rennick

Watt

Ciccone

McCarthy

 

 

 

NOES, 9

Senators—

Di Natale

Lambie

Siewert*

Waters

Faruqi

McKim

Steele-John

Whish-Wilson

Hanson-Young

 

* Tellers

Question agreed to.

Bill read a third time.