Territory Stories

Regulations 2003 No.3 of 2002 Amendment of Housing Assistance Schemes Regulations

Details:

Title

Regulations 2003 No.3 of 2002 Amendment of Housing Assistance Schemes Regulations

Other title

Tabled paper 771

Collection

Tabled Papers for 9th Assembly 2001 - 2005; Tabled Papers; ParliamentNT

Date

2003-02-18

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/286277

Citation address

https://hdl.handle.net/10070/405749

Page content

A number of consequential changes to Schedule 6 are also necessary. These relate to income, and the amount advanced to the applicant and the approved person. Further changes to Schedule 6 relate to the transfer of loans to a new property and the need to demonstrate savings ability. The regulations regarding the process of transferring loans has been clarified, and the new regulation is designed to ensure that the applicant is taking a worthwhile step towards improving his/her living conditions. It is considered that the requirement for an applicant to contribute $2,000 of his or her own savings towards the purchase price excludes from the scheme a number of people to whom it is intended to apply. An amendment to the Schedule to make the scheme more accessible to its target group, by removing this requirement, is also included. These Regulations also make a number of related changes to Schedule 7 of the principal Regulations. Provision is also made for the lapsing of a grant of transfer of loan arrangements after three months in certain circumstances. Authority: section 37 of the Housing Act.