Homes Savings Grant Regulations
Statutory Rules 1980 No. 258 as amended
made under the
Homes Savings Grant Act 1976
This compilation was prepared on 4 June 2004
taking into account amendments up to SR 1980 No. 336
Prepared by the Office of Legislative Drafting,
Attorney-General’s Department, Canberra
Contents
1 Citation [see Note 1]
2 Interpretation
3 Maximum qualifying value
4 Relevant value
5 Application
Notes
1 Citation [see Note 1]
These Regulations may be cited as the Homes Savings Grant Regulations.
2 Interpretation
In these Regulations, unless the contrary intention appears, the Act means the Homes Savings Grant Act 1976.
3 Maximum qualifying value
For the purposes of subsection 19 (6) of the Act, $70,000 is prescribed.
4 Relevant value
For the purposes of subsection 31 (15) of the Act, $60,000 is prescribed.
5 Application
These Regulations apply to and in relation to an application for a grant under the Act by an applicant, or by applicants, in relation to whom the date that is the prescribed date for the purposes of the Act is a date later than 18 August 1980.
Notes to the Homes Savings Grant Regulations
Note 1
The Homes Savings Grant Regulations (in force under the Homes Savings Grant Act 1976) as shown in this compilation comprise Statutory Rules 1980 No. 258 amended as indicated in the Tables below.
For all relevant information pertaining to application, saving or transitional provisions see Table A.
Table of Statutory Rules
Year and
number | Date of notification
in Gazette | Date of
commencement | Application, saving or
transitional provisions |
1980 No. 258 | 5 Sept 1980 | 5 Sept 1980 | |
1980 No. 336 | 27 Nov 1980 | 27 Nov 1980 | R. 3 |
Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
Provision affected | How affected |
R. 3................. | am. 1980 No. 336 |
R. 4................. | am. 1980 No. 336 |
Table A Application, saving or transitional provisions
Statutory Rules 1980 No. 336
3 Application
The amendments effected by these Regulations apply to and in relation to an application for a grant under the Homes Savings Grant Act 1976 by an applicant, or by applicants, in relation to whom the date that is the prescribed date for the purposes of that Act is a date later than 30 September 1980.
Overview
The Homes Savings Grant Regulations Statutory Rules 1980 No. 258, as amended, were made under the Homes Savings Grant Act 1976. The objective of the Act, as indicated in the text, is to provide financial assistance to eligible individuals for the purchase or construction of a home. The problem or gap that the Act sought to address was the need for financial support to help individuals acquire or build a home, which was not adequately met by other existing provisions at the time. The Regulations were enacted by the Parliament of Australia to provide more detailed guidance and rules on the application and administration of the Act. The most recent amendments to the Regulations, as noted in Statutory Rules 1980 No. 336, apply to applications for a grant made after 30 September 1980, indicating the ongoing refinement of the legislative framework to better serve its intended purpose.
Scope and Application
The Homes Savings Grant Regulations, Statutory Rules 1980 No. 258, as amended, are made under the Homes Savings Grant Act 1976 and apply to any applications for a grant under the Act by applicants where the prescribed date for the purposes of the Act is later than 18 August 1980. The Act and the Regulations are designed to facilitate and regulate the granting of financial assistance to individuals or entities for the purchase or construction of homes, ensuring that the process is both structured and equitable. The Regulations establish the maximum qualifying value and relevant value for determining eligibility for the grant, with specific amounts set at $70,000 and $60,000 respectively. Any subsequent amendments to these figures, such as those made by Statutory Rules 1980 No. 336, apply to applications made after 30 September 1980, extending the temporal scope of the Regulations. The application of these Regulations is limited to those who meet the criteria set out in the Act and subsequent amendments, ensuring that the legislative intent is adhered to across all applicable transactions and entities.
Key Provisions
The Homes Savings Grant Regulations, which are governed by the Homes Savings Grant Act 1976, establish certain financial thresholds and rules for the application process. These regulations are referred to as the Homes Savings Grant Regulations and are effective as of the dates specified in the statutory rules, with subsequent amendments incorporated as noted (Regulation 1). The Act itself is defined within the regulations as the Homes Savings Grant Act 1976 (Regulation 2). Regulation 3 prescribes a maximum qualifying value of $70,000 for the purposes outlined in subsection 19(6) of the Act, while Regulation 4 specifies a relevant value of $60,000 for the purposes of subsection 31(15) of the Act (Regulations 3 and 4). Regulation 5 states that these regulations apply to any grant application made under the Act where the prescribed date is later than 18 August 1980.
The obligations imposed by these regulations on applicants and relevant parties include adhering to the specified financial thresholds. For instance, applicants must ensure that their circumstances align with the prescribed maximum qualifying value and relevant value as defined in the regulations (Regulations 3 and 4). Additionally, any application for a grant under the Act must be made in accordance with the dates specified in Regulation 5, which sets out the temporal scope of the regulations.
Failure to comply with the provisions of these regulations can result in significant consequences. While the regulations themselves do not explicitly detail offences or penalties, breaches of the Act or its regulations may lead to civil or criminal liability under the overarching Homes Savings Grant Act 1976. The Act provides for various penalties, which may include fines or other sanctions for non-compliance. The specific penalties would depend on the nature and severity of the breach, as outlined in the Act. It is essential for applicants and other relevant parties to thoroughly understand and comply with both the Act and these regulations to avoid any potential legal repercussions.