NHFIC is committed to maintaining high standards of corporate governance which it considers essential to being a long-term sustainable organisation and to continually act in the best interests of the Australian public.
NHFIC was established by the Australian Government under the National Housing Finance and Investment Corporation Act 2018 (NHFIC Act).
The NHFIC Act:
Provides the NHFIC Board with statutory responsibility for deciding the NHFIC's strategies and policies, and ensuring the proper, efficient and effective performance of NHFIC’s functions. The Board makes its investment decisions independently of government
Provides for the appointment of the NHFIC Chief Executive Officer, who is responsible for the day-to-day administration of NHFIC, subject to and in accordance with the policies determined by the Board
Requires the NHFIC Board to ensure that NHFIC maintains commercially sound and sufficient levels of capital and reserves
Allows the NHFIC to borrow money (supported by a Commonwealth guarantee).
Under the Public Governance, Performance and Accountability Act 2013 (PGDA Act), NHFIC is classified as a corporate Commonwealth entity being a body corporate that is legally separate from the Commonwealth.
NHFIC operates under an Investment Mandate set out by the Australian Government.
The Investment Mandate provides guidance to our Board on:
NHFIC’s investment functions, including applicant eligibility criteria
The strategies and policies to be followed for the effective performance of NHFIC’s functions
General governance matters
The current NHFIC Investment Mandate Direction took effect on 12 November 2019.