Defence Service Homes Corporation
Defence Service Homes
13 December 1976 – 19 December 1988
Previously Australian Housing Corporation (1975–1976).
Statutory corporation that ran the defence service homes scheme, which made low-interest housing loans to eligible ex-service personnel and insured their homes, until its mortgage portfolio was sold to Westpac.
Names over time
- Australian Housing Corporation1975–1976
- Defence Service Homes Corporation1976–1988
How it came into existence
Formed when the Defence Service Homes Amendment Act 1976 (No. 185 of 1976, assented to on 13 December 1976, the date used here; some sources give 1977) renamed the Australian Housing Corporation as the Defence Service Homes Corporation and its Act as the Defence Service Homes Corporation Act 1976; it continued to administer loans under the Defence Service Homes Act 1918 (originally the War Service Homes Act 1918). It was administered within the Veterans' Affairs portfolio; some sources date the scheme's move to that portfolio to 1976, but the date is not confirmed.
Legislation: Defence Service Homes Act 1918; Defence Service Homes Corporation Act 1976
Changes during its life
- 1 July 1977The Defence Service Homes Amendment Act 1977 came into operation, repealing the Australian Housing Corporation Act 1975 as amended in 1976; the corporation continued to run the scheme under the Defence Service Homes Act 1918.
How it ended
Ceased when the Defence Service Homes Amendment Act 1988 (No. 124 of 1988, assented to on 14 December 1988) took effect on 19 December 1988: the corporation's portfolio of mortgages and contracts of sale was sold to Westpac Banking Corporation at face value, and the Commonwealth's remaining powers under the Defence Service Homes Act, including the Defence Service Homes insurance scheme and the subsidy on Westpac loans, were exercised by the Secretary of the Department of Veterans' Affairs.
- Defence Service Homes insurance
- Administration of defence service homes loans and Westpac loan subsidies
Main functions
- Low-interest housing loans for eligible ex-service personnel
- Management of the defence service homes mortgage portfolio
- Defence Service Homes insurance of homes
Where it sits
Last in the portfolio of Department of Veterans' Affairs.
Lineage
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Sources
Primary sources
Government records and websites
Other sources
Some dates or links for this organisation are not fully confirmed. Corrections are welcome.