131Waiver of debts etc

131 Waiver of debts etc (1) The Treasurer may, in writing, on behalf of the Territory— (a) waive the Territory’s right to payment of an amount payable to the Territory; or (b) postpone any right of the Territory to be paid a debt in priority to another debt; or (c) allow the payment by instalments of an amount payable to the Territory; or (d) defer the time for payment of an amount payable to the (2) A waiver relating to an amount payable to the Territory by a person may be expressed to be subject to a condition that the person agrees to pay an amount to the Territory in circumstances specified in the waiver.

(3) A waiver relating to an amount payable to the Territory must be reported in the notes to the financial statements of the relevant directorate that relate to the year in which the right to payment was waived.