Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Secretary may, on behalf of the Commonwealth, decide to waive the Commonwealth's right to recover debts, or parts of debts, arising under or as a result of this Act that are included in a class of debts specified by the Minister by legislative instrument.
(1A) An instrument made by the Minister under subsection (1):
(a) may specify conditions to be met before the Secretary exercises the power to waive debts, or parts of debts, in the specified class; and
(b) may specify limits on the amounts to be waived in relation to debts in the specified class.
The Secretary must exercise the power to waive in accordance with any conditions or limits specified in the instrument.
(2) A decision under subsection (1) takes effect:
(a) if no day is specified in the decision--on the day on which the decision is made; or
(b) if a day is specified in the decision--on the day so specified (whether that day is before, after or on the day on which the decision is made).