Document ID: chunk:federal_register_of_legislation:C2004A00814:clause:1_1234
Version: federal_register_of_legislation:C2004A00814
Segment Type: clause
Provision Reference: sch 1 cl 1234
Character Range: 29119–30399

1234  Arrangement for payment of debt

 (1) The Secretary may, on behalf of the Commonwealth, enter into an arrangement with a person under which the person is to pay a debt, owed by the person to the Commonwealth, or the outstanding amount of such a debt, in a way set out in the arrangement.

 (2) An arrangement entered into under subsection (1) has effect, or is taken to have had effect, on and after the day specified in the arrangement as the day on which the arrangement commences (whether that day is the day on which the arrangement is entered into or an earlier or later day).

 (3) If an arrangement entered into under subsection (1) does not specify a day as mentioned in subsection (2), it has effect on and after the day on which it is entered into.

 (4) The Secretary may terminate or alter an arrangement entered into under subsection (1):
 (a) at the debtor's request; or
 (b) after giving 28 days' notice to the debtor of the proposed termination or alteration; or
 (c) without notice, if the Secretary is satisfied that the person has failed to disclose material information about his or her true capacity to repay the debt.

 (5) In subsection (1):

debt means:
 (a) a debt recoverable by the Commonwealth under Part 5.2; or
 (b) a debt under the 1947 Act.