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Legislative Assembly for the ACT: 2002 Week 10 Hansard (29 August) . . Page.. 3129 ..

While majority of the investments are currently classified as short term investment (due to maturity within 12 months), these funds will be reinvested to match against the future cash outflow for repayment of interest bearing loans from the Commonwealth. The estimated outstanding interest bearing liabilities at the end of 2002-03 are $101,892,000 as highlighted in page 115 of Budget Paper No. 4.

(c) and (d) Please see 2 (a) and (b) above.

Attachment A

Allowable Uses of Assets and Available Funds

4(14) For the purposes of subclasses 4(13), 4(15), 4(17), 4(18), 4(19) and 4(20), assets include those funded under Previous Housing Arrangements and under this Agreement.

4(15) Assets and available funds for the period of an agreed Bilateral Agreement, being Commonwealth. Financial Assistance and State funding contributions and any net income earned from the use of assets including net proceeds of any asset sales and other asset realisations, can only be used in accordance with that Bilateral Agreement for the following purposes:

(a) to address housing need, in accordance with the principles outlined in subclause 1(1);

(b) to establish and maintain the viability of housing providers funded under this Agreement or Previous Housing Arrangements, including the retirement of debt that has been used to fund housing assistance in accordance with this Agreement or in accordance with Previous Housing Arrangements;

(c) to provide appropriately for asset management in accordance with the principles specified in subclause 1(1);

(d) to provide funds or transfer assets to non-government organisations and local government for the purpose of providing housing assistance in accordance with the principles specified in subclause 1(1);

(e) to provide subsidies for consumers who receive housing assistance, including home purchase assistance, in accordance with this Agreement or in accordance with Previous Housing Arrangements;

(f) to conduct research, advocacy, consumer participation, information dissemination activities, and other like activities pursuant to this Agreement; and

(g) any other housing-related use as agreed between the Minister and a State Minister.

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