📜 Housing Societies Repeal Bill 2005
Assented toLABill 3818 May 2005
The Housing Societies Repeal Bill 2005 repeals the Housing Societies Act 1976 and the Housing Loan Guarantee Act 1957, allowing for the winding up of the remaining housing societies. It outlines the distribution of reserves to eligible members and allocates a portion to future affordable housing initiatives.
Impact
Remaining members of housing societies will receive a distribution of reserves. Low-income families will benefit from future affordable housing programs. The State Housing Commission will administer the funds. This matters because it finalizes the operations of these societies and redirects funds to address current housing needs.
Key Changes
["Repeals the Housing Societies Act 1976.", "Repeals the Housing Loan Guarantee Act 1957.", "Distributes housing society reserves to eligible members.", "Transfers remaining reserves to the State for affordable housing programs."]
Parliamentary Progress
- LA Second Reading MovedLA18 May 2005
- LA IntroducedLA18 May 2005
- LA Third ReadingLA17 Aug 2005
- LA Second Reading AgreedLA17 Aug 2005
- LC Second Reading MovedLC18 Aug 2005
- LC Second Reading AgreedLC20 Sept 2005
- LC Third ReadingLC22 Sept 2005
Affected Sectors
housingfinancepublic_sector
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