Commonwealth Numbered Acts

AUDIT AMENDMENT ACT 1979 No. 8 of 1979 - SECT 59

59. Section 70C of the Principal Act is amended by adding at the end thereof
the following sub-sections:

''(2) Subject to sub-section (4), the Minister has, on behalf of the
Commonwealth, power-

   (a)  to waive the right of the Commonwealth-

        (i)    to the payment of an amount payable to the Commonwealth or to
               the payment of an amount included in a class of amounts payable
               to the Commonwealth; or

        (ii)   to the recovery by the Commonwealth of any stores or of stores
               included in any class of stores; and

   (b)  to postpone the right (whether arising under an enactment or
        otherwise) to payment of a debt payable to the Commonwealth in
        priority to another debt or to all other debts included in a class of
        debts.

''(3) The power conferred on the Minister by sub-section (2) is in addition
to, and does not derogate from, any other power conferred on the Minister by
this Act, by any other Act or by a law of a Territory.

''(4) The Minister shall not waive the right of the Commonwealth to the
payment of an amount exceeding $25,000 unless he has considered a report
concerning the proposed waiver furnished to him by a committee consisting of
the Secretary to the Department of Finance, the Secretary to the Department of
Administrative Services and the Comptroller-General of Customs.

''(5) The Minister may appoint a person to be a deputy of a person for the
time being holding, or performing the duties of, an office specified in
sub-section (4).

''(6) Where the person for the time being holding, or performing the duties
of, an office specified in sub-section (4) is, at any time, unable to act as a
member of the committee referred to in that sub-section, the deputy of that
person may act as a member of that committee on his behalf and shall, while so
acting, be deemed to be a member of that committee in place of that person.

''(7) The regulations may make provision for and in relation to the conduct of
the business of, and the convening and conduct of meetings of, the committee
referred to in sub-section (4).''.