Home Building Finance Ireland Act 2018

Review of achievement of purposes of HBFI

24. (1) The Minister may from time to time require HBFI to report to him or her regarding the performance of its functions, including its compliance with the obligations imposed on it under section 7 (2).

(2) As soon as practicable after 31 December 2020, and not later than the second anniversary of that date and each subsequent second anniversary while HBFI continues in existence, the Minister shall prepare a report setting out his or her—

(a) assessment as to the extent to which HBFI has performed its functions and complied with the obligations imposed on it under section 7 (2),

(b) assessment as to the ongoing impact of HBFI on the amount of money being made available for the purposes of residential development in the State,

(c) assessment of the amount of money being made available for the purposes of residential development in the State from sources other than HBFI, and

(d) decision as to whether HBFI should continue in operation having regard to the conclusions of the assessments referred to in paragraphs (a) to (c).

(3) In preparing a report under subsection (2), the Minister shall—

(a) seek the views of the board of HBFI on the matters to be assessed by the Minister for the purposes of paragraphs (a) to (c) of that subsection, and

(b) engage in a period of public consultation on the matters to be assessed by the Minister for the purposes of paragraph (c) of that subsection.

(4) Where the views of the board of HBFI are sought under subsection (3)(a), the board may make submissions to the Minister on any other matter that the board considers relevant to the preparation of the report being prepared under subsection (2).

(5) The Minister shall lay a copy of a report prepared under subsection (2) before each House of the Oireachtas as soon as practicable following its preparation.