Warren Snowdon (Lingiari, Australian Labor Party, Minister for Defence Science and Personnel) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

I am pleased to present the Defence Home Ownership Assistance Scheme (Consequential Amendments) Bill 2008.

The Defence Home Ownership Assistance Scheme (Consequential Amendments) Bill 2008 deals with the consequential matters in connection with the Defence Home Ownership Assistance Scheme Bill 2008, upon which I have just spoken.

The bill makes amendments to the Defence Force (Home Loans Assistance) Act 1990 and the Defence Service Homes Act 1918, which are required as a result of the measures contained in the Defence Home Ownership Assistance Scheme Bill 2008.

This bill, together with the rules under the Defence Home Ownership Assistance Scheme Bill 2008, will provide for eligible persons to transition into the new scheme. It will close the scheme established under the Defence Force (Home Loans Assistance) Act 1990 to serving members who have not yet exercised their benefits under that scheme. The bill will extend the operation of that scheme for former members until 30 June 2010.

Serving members who are eligible under the Defence Service Homes Act 1918 may also apply to join and receive benefits under the new scheme.

The amendments will ensure that a subsidy is payable only under one scheme. The effect of joining the new scheme is that eligible persons cannot return to either of the existing schemes once the subsidy has become payable under the new scheme.

I commend the bill.

Debate (on motion by Mr Farmer) adjourned.