(1) The Commission may, on behalf of the Commonwealth, by determination in writing:
(a) write off debts arising under or as a result of this Act, or debts arising under or as a result of this Act that are included in a class of debts specified by the Minister by notice in writing published in the Gazette ;
(b) waive or defer the right of the Commonwealth:
(i) to recover from a person the whole or a part of a debt that is payable by the person under or as a result of this Act; or
(ii) to recover debts under or as a result of this Act included in a class of debts specified by the Minister by notice in writing published in the Gazette ; or
(c) allow an amount that is payable by a person to the Commonwealth under or as a result of this Act to be paid in instalments.
(2) Proceedings for the recovery from a person of any amount that is payable by the person to the Commonwealth under or as a result of this Act are not to be commenced after the end of the period of 6 years starting on the first day on which an officer becomes aware, or could reasonably be expected to have become aware, of the circumstances that gave rise to the debt.