20Act of Grace Payments, Waivers and Defective Administration Scheme

20 Act of Grace Payments, Waivers and Defective Administration Scheme

20.1 The disclosures required by this policy are material by nature.

20.2 The financial statements must include a note showing:

(a) the number and aggregate amount of any act of grace payments made during the reporting period pursuant to subsection 33 (1) of the Financial Management and Accountability Act 1997;

(b) the number of waivers, and the aggregate amount owing to the Commonwealth, the recovery of which was waived during the reporting period (being amounts that the entity would, but for the waiver, have been entitled to receive on behalf of the Commonwealth);

• pursuant to subsection 34 (1) of the Financial Management and Accountability Act 1997; and
• pursuant to other legislation, which should be specified; and

(c) the number and aggregate amount of payments during the reporting period under the Scheme for Compensation for Detriment caused by Defective Administration (CDDA).