Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the Agency has agreed to settle a civil action against a debtor for recovery of a debt for less than the full amount of the debt, the CEO must waive the right to recover the difference between the debt and the amount that is the subject of the settlement.
(2) If the CEO has agreed to settle proceedings before the Administrative Review Tribunal relating to recovery of a debt on the basis that the debtor will pay less than the full amount of the debt, the CEO must waive the right to recover the difference between the debt and the amount that is the subject of the settlement.
(3) If:
(a) the Agency has recovered at least 80% of the original value of a debt from a debtor; and
(b) the Agency and the debtor agree that the recovery is in full satisfaction for the whole of the debt; and
(c) the debtor cannot repay a greater proportion of the debt;
the CEO must waive the remaining 20% or less of the value of the original debt.
(4) If the CEO and a debtor agree that the debtor's debt will be fully satisfied if the debtor pays the Agency an agreed amount that is less than the amount of the debt outstanding at the time of the agreement (the unpaid amount ), the CEO must waive the right to recover the difference between the unpaid amount and the agreed amount.
(5) The CEO must not make an agreement described in subsection (4) unless the CEO is satisfied that the agreed amount is at least the present value of the unpaid amount if it is repaid in instalments of amounts, and at times, determined by the CEO.
(6) For the purposes of subsection (5), the present value of the unpaid amount is the amount worked out in accordance with the method prescribed by the National Disability Insurance Scheme rules.