15Terms of financial improvement agreement

15 Terms of financial improvement agreement

(1) A financial improvement agreement that is in force in relation to a person is to contain one or more terms (the requirements) that: (a) require the person to undertake activities for the purposes of the activity test; and (b) the Secretary regards as suitable for the person.

Note: For the activities that may be undertaken, see section 19.

(2) A financial improvement agreement must not contain a requirement of a kind prescribed by the Secretary’s rules for the purposes of this subsection. (3) To avoid doubt, the Secretary’s rules do not limit the Secretary’s discretion to exclude other kinds of requirements from a particular financial improvement agreement under subsection (1). Optional terms (4) A financial improvement agreement may also contain one or more terms that the person may, but is not required to, comply with.