Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

Section 24 provides that HBFI must, upon a request from the Minister for Finance, report on the achievement of its objectives with reference to section 7(2). This section also requires the Minister to produce a report as soon as possible after 31 December 2020, and every subsequent two years, setting out his or her assessment as to whether HBFI should continue to operate. In making his or her assessment, the Minister may solicit the views of the board of HBFI or consult the public. A copy of each report will be laid before each House of the Oireachtas. HBFI has always been envisaged as a temporary measure to stimulate increased financing for residential projects. This section is designed to ensure HBFI's temporary nature by providing a mechanism through which its performance can be assessed. Once HBFI has achieved its objectives in reference to section 7(2), it can be discontinued to ensure that its ongoing operation does not distort the market.