Social and Affordable Housing NSW Fund Act 2016 (NSW)

Social and Affordable Housing NSW Fund Act 2016 No 51

An Act to establish the Social and Affordable Housing NSW Fund for the purpose of providing funding for the delivery of social and affordable housing.

Part 1 Preliminary

1 Name of Act This Act is the Social and Affordable Housing NSW Fund Act 2016.

2 Commencement This Act commences on the date of assent to this Act.

3 Definitions (1) In this Act: derivative arrangement has the same meaning as in the Government Sector Finance Act 2018. government agency means any of the following: (a) a government sector agency (within the meaning of the Government Sector Employment Act 2013), (b) a NSW government agency or other public authority constituted by or under an Act, (c) a local council or other local authority, (d) a State owned corporation. the Fund means the Social and Affordable Housing NSW Fund established under this Act.

Note— The Interpretation Act 1987 contains definitions and other provisions that affect the interpretation and application of this Act. (2) Notes included in this Act do not form part of this Act.

Part 2 Social and Affordable Housing NSW Fund

4 Establishment of the Fund There is to be established in the Special Deposits Account the Social and Affordable Housing NSW Fund.

5 Purpose of the Fund The purpose of the Fund is to provide funding to promote any of the objects of the Housing Act 2001 or the Community Housing Providers (Adoption of National Law) Act 2012.

6 Control and management of Fund The Minister is to control and manage the Fund.

7 Payment into the Fund (1) The following are to be paid into the Fund: (a) all money appropriated by Parliament, or advanced by the Treasurer, for payment into the Fund, (b) all money appropriated by Parliament to the Treasurer for the general purposes of the Government (and not for the purposes of individual government agencies) and directed by the Treasurer to be paid into the Fund, (c) the proceeds of the investment of money in the Fund, (d) any money borrowed by the Minister for the purpose of the Fund, (e) any grant, gift, bequest or other contribution of money to the Fund made by a government agency or other person or body, (f) the payment or repayment of principal or interest on money loaned from the Fund (including fees associated with the loan), (g) any money payable arising from a derivative arrangement (or other financial risk management strategy) effected by the Minister for the purpose of the Fund, (h) all other money directed or authorised to be paid into the Fund by or under any Act or law. (2) Government agencies are authorised by this section to make contributions to the Fund. (3) The Treasurer may direct that any money directed to be paid into the Fund by the Treasurer is subject to the repayment of the money (including an amount in the nature of interest) from the Fund.