Commonwealth Numbered Acts

AUSTRALIAN HOUSING CORPORATION ACT 1975 No. 25 of 1975 - SECT 29

29. (1) The Corporation may, in accordance with regulations, lend money to a
person for the building or purchase of a dwelling, for the payment of rent in
respect of a dwelling or for the purchase of land to be used for the erection
of a dwelling, being regulations that prescribe the circumstances in which
such loans may be made.

(2) The Corporation may make advances by way of loan to an approved lender for
the purpose of the making of loans by the approved lender to other persons for
the building or purchase of dwellings or for the payment of rent in respect of
dwellings, but any such advances shall be made on terms and conditions that
require the loans by the approved lender to be made only in prescribed
circumstances and that are otherwise in accordance with the regulations.

(3) The matters by reference to which the circumstances referred to in
sub-section (1) or (2) may be described include the classes of persons who are
eligible for loans and the description of dwellings or land in respect of
which loans may be made.

(4) Regulations for the purposes of sub-section (1) or (2) shall contain
provisions relating to the maximum amounts of loans under subsection (1) or
the maximum amounts of moneys advanced by the Corporation that may constitute
or be included in loans under sub-section (2), as the case may be, and
relating to the terms and conditions of repayment of, and interest on, loans
referred to in those sub-sections.

(5) The Corporation shall not lend money otherwise than in accordance with
this section or in pursuance of its power to invest under sub-section 39 (2).
(6) In this section, ''approved lender'' means a person approved by the
Corporation under section 28, but does not include a person whose approval
under that section has been revoked.