National Housing Finance and Investment Corporation (Member) Appointment (No. 1) 2021

Overview

The National Housing Finance and Investment Corporation (Member) Appointment (No. 1) 2021, made under subsection 18(1) of the National Housing Finance and Investment Corporation Act 2018, appoints Jane Hewitt as a part-time member of the Board of the National Housing Finance and Investment Corporation. The appointment, which took effect on 26 July 2021 and will last until 25 July 2024, was enacted by Michael Sukkar, the Assistant Treasurer and Minister for Housing and Minister for Homelessness, Social and Community Housing, on 29 June 2021. The legislation aims to fill a vacancy on the Board to ensure the ongoing governance and strategic direction of the Corporation in fulfilling its role in the housing finance sector. The policy objective, as implied by the appointing authority's roles, is to maintain and enhance the Corporation’s capacity to deliver housing solutions and support the broader housing policy objectives of the Australian Government.

Scope and Application

The F2021N00143 (Notifiable instrument) National Housing Finance and Investment Corporation (Member) Appointment (No. 1) 2021 is a legislative instrument issued under the National Housing Finance and Investment Corporation Act 2018. This Act applies to the appointment of individuals to the Board of the National Housing Finance and Investment Corporation, a statutory body established to provide finance and investment to support affordable housing and homelessness services in Australia. The legislation specifies the appointment of Jane Hewitt as a part-time member of the Board, effective from 26 July 2021 to 25 July 2024, and is relevant to the individual named, the Board, and the Corporation itself. The geographic reach of this legislation is national, impacting the Corporation's operations across Australia. The instrument does not outline specific exclusions, exemptions, or thresholds but operates under the broader provisions of the parent Act. The application and scope of this appointment may be further extended or restricted through subordinate instruments or regulations issued under the authority of the Act.

Key Provisions

The main operative sections of this legislation, the National Housing Finance and Investment Corporation (Member) Appointment (No. 1) 2021 (F2021N00143), involve the appointment of Jane Hewitt as a part-time member of the Board of the National Housing Finance and Investment Corporation (NHFICO) for a specific term. Section 1 of the legislation explicitly appoints Jane Hewitt (section 1(1)), outlining her role as a Board member and the duration of her appointment, from 26 July 2021 to 25 July 2024 (section 1(2)). This appointment is made under the authority granted by subsection 18(1) of the National Housing Finance and Investment Corporation Act 2018 (section 1(3)). The obligations and requirements imposed by this Act on Jane Hewitt as a newly appointed Board member include the duties and responsibilities typically associated with board membership, such as participating in meetings, contributing to strategic decision-making, and adhering to the Corporation’s policies and procedures. Her part-time basis appointment implies a commitment to fulfilling her duties within the constraints of a reduced schedule compared to full-time members, ensuring she can contribute effectively without overburdening her with excessive obligations. Breach of the terms of her appointment, failure to perform her duties, or any misconduct while serving as a Board member may result in consequences. While the specific civil or criminal penalties are not detailed within this legislation, general provisions under the National Housing Finance and Investment Corporation Act 2018 may apply. These could include potential termination of her appointment, financial penalties, or other disciplinary actions as deemed appropriate by the governing authorities. However, the exact nature and extent of any penalties would be determined based on the circumstances of any breach and the relevant legislative provisions.