Regulations and Determinations

The majority voted against a motion introduced by Senator Andrew Bragg (Liberal), which means it was not successful.

Motion text

That the Treasury Laws Amendment (Help to Buy Exemptions) Regulations 2025, made under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, be disallowed [F2025L01140].

What does the Treasury Laws Amendment (Help to Buy Exemptions) Regulations 2025 do?

According to the explanatory memorandum:

The purpose of the Treasury Laws Amendment (Help to Buy Exemptions) Regulations 2025 (Instrument) is to support the efficient and effective operation of the Help to Buy program (Help to Buy) by ensuring that, where Housing Australia and participating lenders (as defined in section 5 of the Help to Buy Program Directions 2025 (Program Directions)) have obligations in relation to ‘Help to Buy arrangements’ (HTB arrangement) (as defined in section 5 of the Help to Buy Act 2024 (HTB Act) by reference to section 6 of the HTB Act), these are regulated by the Program Directions.

The Instrument does this by amending the National Consumer Credit Protection Regulations 2010 (Credit Regulations) to prescribe that the National Credit Code (NCC) does not apply to the provision of credit by Housing Australia under a HTB arrangement. Prescribing that the NCC does not apply has the effect that the Credit Act also does not apply to the provision of credit by Housing Australia under a HTB arrangement. The Instrument also amends the Corporations Regulations 2001 (Corporations Regulations) to declare that a HTB arrangement is not a ‘derivative’ for the purposes of the Corporations Act.