Arrangement for payment of debt
184 Arrangement for payment of debt
The CEO may enter into an arrangement with a person under which the person is to pay a debt, owed by the person to the Agency under this Act, or the outstanding amount of such a debt, in a way set out in the arrangement.
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 the arrangement commences (whether that day is the day the arrangement is entered into or an earlier or later day).
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.
The CEO may terminate or alter an arrangement entered into under subsection (1):
at the debtor’s request; or
after giving 28 days’ notice to the debtor of the proposed termination or alteration; or
without notice, if the CEO is satisfied that the person has failed to disclose material information about his or her true capacity to repay the debt.
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