Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) The housing commissioner may intervene in the business of a registered housing provider if the housing provider—
(a) fails to adequately manage risk; or
(b) fails to comply with another condition of registration; or
(c) fails to comply with an instruction issued by the housing commissioner under this Act; or
(d) makes changes to its rules so that the housing provider—
(i) no longer complies with the registration requirements; or
(ii) cannot provide affordable housing.
(2) If the housing commissioner proposes to intervene in the business of a registered housing provider, the commissioner must give the housing provider written notice stating—
(a) the reasons for the proposed intervention; and
(b) how the commissioner proposes to intervene; and
(c) the reasonable time within which the housing provider may make representations to the commissioner about the proposed intervention.
(3) The housing commissioner must not intervene in the business of a registered housing provider unless the commissioner—
(a) has considered any representations made to the commissioner within the time stated in the notice given under subsection (2); and
(b) is satisfied on reasonable grounds that the intervention is appropriate in the circumstances and in accordance with the intervention guidelines.
(4) The housing commissioner may intervene in the business of the registered housing provider by taking 1 or more of the following actions:
(a) appointing people to the board of the housing provider;
(b) appointing an administrator to control and direct the operation of the housing provider;
(c) appointing an administrator to wind up the housing provider and distribute its assets.
(5) The housing commissioner must determine guidelines (the intervention guidelines ) for intervening in the business of a registered housing provider.
(6) The intervention guidelines are a disallowable instrument.
Note A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act.
(7) This section is declared to be a corporations legislation displacement provision for the Corporations Act, section 5G (Avoiding direct inconsistency arising between the Corporations legislation and State and Territory laws).
Note Subsection (5) ensures that any provision of the Corporations Act or the Australian Securities and Investment Commission Act 2001 (Cwlth) with which this section would otherwise be inconsistent does not apply to the extent necessary to avoid the inconsistency.