Northern Territory Explanatory Statements

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HOUSING AMENDMENT BILL 2005



Housing Amendment Bill 2004

EXPLANATORY STATEMENT

(Serial )

Mr John Ah Kit MLA
Minister for Housing


THE HOUSING AMENDMENT BILL 2004 PROPOSES TO AMEND SECTION 24 OF THE HOUSING ACT AND MAKE CONSEQUENTIAL AMENDMENTS TO REGULATIONS AND THE STAMP DUTY ACT.

THE PROPOSED AMENDMENT TO THE HOUSING ACT WILL REMOVE THE REQUIREMENT FOR HOME PURCHASE ASSISTANCE SCHEMES TO BE PRESCRIBED BY REGULATION, AND WILL INSTEAD ALLOW THE CHIEF EXECUTIVE OFFICER (HOUSING) TO APPROVE SUCH SCHEMES, FOLLOWING ENDORSEMENT BY THE MINISTER FOR HOUSING.

THE BILL WILL SIGNIFICANTLY INCREASE THE ADMINISTRATIVE FLEXIBILITY OF HOME PURCHASE ASSISTANCE SCHEMES, AND ENSURE THAT NEW AND EXISTING SCHEMES CAN BE MORE READILY TARGETED AND BE KEPT IN LINE WITH MARKET CONDITIONS.

THE MAXIMUM PURCHASE PRICE, INCOME AND LOAN AMOUNT UNDER THE SCHEMES WILL BE REVIEWED ANNUALLY, AND CABINET WILL BE CONSULTED BEFORE ANY CHANGES ARE IMPLEMENTED.

A CONSEQUENTIAL AMENDMENT WITH RETROSPECTIVE EFFECT TO
1 JULY 2004 IS REQUIRED TO THE STAMP DUTY ACT, TO ENSURE THAT STAMP DUTY CONCESSIONS AND REBATES ARE AVAILABLE TO THOSE WHO PURCHASE ON A SHARED EQUITY BASIS WITH GOVERNMENT FROM 1 JULY 2004.

A FURTHER AMENDMENT WILL BE REQUIRED TO THE HOUSING LOANS ACT, TO ALLOW LOANS GOVERNED UNDER THIS ACT TO BENEFIT FROM THE FLEXIBILITIES OF THE NEW SCHEMES.
PART 1 - PRELIMINARY

CLAUSE 1. SHORT TITLE.

CLAUSE 2. COMMENCEMENT.

PART 2 – AMENDMENT OF HOUSING ACT

CLAUSE 3. PRINCIPAL ACT

CLAUSE 4. REPEAL AND SUBSTITUTION OF SECTION 24.

AMENDS SECTION 24 OF THE HOUSING ACT SO THAT HOUSING ASSISTANCE SCHEMES CAN BE ADMINISTERED AND AMENDED BY THE CHIEF EXECUTIVE OFFICER (HOUSING) WITHOUT THE NEED FOR NEW REGULATIONS.

CLAUSE 5. REPEAL AND SUBSTITUTION OF PART VIII HEADING.

AMENDS THE HEADING TO PART VIII TO READ “PART VIII – TRANSITIONAL MATTERS FOR HOUSING ACT 1982”.

CLAUSE 6. NEW PART IX.

AMENDS THE HOUSING ACT BY INSERTING A NEW PART AFTER PART VIII. THE NEW PART IX CONTAINS TRANSITIONAL MATTERS FOR THE HOUSING AMENDMENT ACT 2004. SECTION 44 OF THE NEW PART IX INCLUDES DEFINITIONS FOR ‘REPEALED HOME PURCHASE REGULATIONS’, REPEALED HOUSING ASSISTANCE REGULATIONS’, ‘REPEALED HOUSING SALES REGULATIONS’ AND ‘COMMENCEMENT DATE’. SECTION 45(1) OF THE NEW PART IX ALLOWS THE CHIEF EXECUTIVE OFFICER (HOUSING) TO ADMINISTER AND AMEND THE SCHEME UNDER THE REPEALED HOME PURCHASE REGULATIONS. SECTION 45(2) DEEMS REGULATION 3(2) OF THE REPEALED HOME PURCHASE REGULATIONS TO BE PROVISIONS OF THE SCHEME REFERRED TO IN SECTION 45(1). SECTION 46(1) OF THE NEW PART IX ALLOWS THE CHIEF EXECUTIVE OFFICER (HOUSING) TO ADMINISTER AND AMEND THE SCHEMES SET OUT IN SCHEDULES 1 TO 4 AND 6 TO 10 TO THE REPEALED HOUSING ASSISTANCE REGULATIONS. SECTION 46(2) DEEMS REGULATION 2, 3A, 4 AND 5 OF THE REPEALED HOUSING ASSISTANCE REGULATIONS TO BE PROVISIONS OF THE SCHEMES REFERRED TO IN SECTION 46(1). THEREBY ALLOWING THE CHIEF EXECUTIVE OFFICER (HOUSING) TO AMEND AND ADMINISTER THOSE HOUSING ASSISTANCE SCHEMES UNDER THE NEW SECTION 24. SECTION 47(1) OF THE NEW PART IX ALLOWS THE CHIEF EXECUTIVE OFFICE (HOUSING) TO ADMINISTER AND AMEND THE SCHEME UNDER THE REPEALED HOUSING SALES REGULATIONS. SECTION 47(2) DEEMS REGULATIONS 4 AND 5 OF THE REPEALED HOUSING SALES REGULATIONS TO BE PROVISIONS OF THE SCHEME REFERRED TO IN SECTION 47(1).

PART 3 – AMENDMENT OF STAMP DUTY ACT

CLAUSE 7. PRINCIPAL ACT

CLAUSE 8. CONCESSION FOR FIRST HOME OWNERS (AMENDMENTS OF STAMP DUTY ACT).

AMENDS SECTION 8B OF THE STAMP DUTY ACT BY OMITTING SUBSECTION (8) OF THE STAMP DUTY ACT. THIS AMENDMENT MAKES APPLICABLE SECTION 8B TO FIRST HOME OWNERS PURCHASING AN INTEREST IN LAND UNDER A SCHEME ADMINISTERED BY THE CHIEF EXECUTIVE OFFICER (HOUSING) UNDER SECTION 22 OR 24 OF THE HOUSING ACT. THEREBY ALLOWING PERSON’S PURCHASING A HOME UNDER A SECTION 22 OR 24 HOUSING ACT SCHEME TO ACCESS THE CONCESSION FOR FIRST HOME OWNERS.

CLAUSE 9. REBATE FOR PRINCIPAL PLACE OF RESIDENCE (AMENDMENTS TO STAMP DUTY ACT).

PART 5 – REPEAL OF REGULATIONS

CLAUSE 10 REPEALS

THE FOLLOWING REGULATIONS ARE REPEALED:

I) HOME PURCHASE ASSISTANCE SCHEME REGULATIONS 1984
II) AMENDMENTS OF HOME PURCHASE ASSISTANCE REGULATIONS
III) HOUSING ASSISTANCE SCHEMES REGULATIONS
IV) AMENDMENTS OF HOUSING ASSISTANCE SCHEMES REGULATIONS
V) HOUSING (GOVERNMENT EMPLOYEES) SALES SCHEME REGULATIONS 1983
VI) AMENDMENTS OF THE HOUSING (GOVERNMENT EMPLOYEES) SALES SCHEME REGULATIONS
VII) NORTHERN TERRITORY INTEREST SUBSIDY SCHEME REGULATIONS
VIII) AMENDMENT OF NORTHERN TERRITORY INTEREST SUBSIDY SCHEME REGULATIONS

 

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