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FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997 No. 154 of 1997 - SECT 34
Finance Minister may waive debts etc.
(1) The Finance Minister may, on behalf of the Commonwealth:
(a) waive the
Commonwealth's right to payment of an amount owing to the Commonwealth;
(b) postpone any right of the Commonwealth to be paid a debt in priority
to another debt or debts;
(c) allow the payment by instalments of an amount owing to the
Commonwealth;
(d) defer the time for payment of an amount owing to the Commonwealth.
(2) If a proposed waiver under paragraph (1)(a) involves, or is likely to
involve, a total amount of more than $100,000, the Finance Minister must
consider a report of an Advisory Committee set up under section 59 before
taking action on the waiver.
(3) A waiver may be made either unconditionally or on the condition that a
person agrees to pay an amount to the Commonwealth in specified circumstances.
(4) In this section:
amount owing to the Commonwealth includes an amount that
is owing but not yet due for payment.
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