(1) The Secretary may, on behalf of the Commonwealth, decide to waive the Commonwealth's right to recover debts arising under or as a result of this Act or Part 3B or 3D of the Administration Act that are included in a class of debts specified, by legislative instrument, by the Minister.
(2) A decision under subsection (1) takes effect:
(a) if no day is specified in the decision--on the day on which the decision is made; or
(b) if a day is specified in the decision--on the day so specified (whether that day is before, after or on the day on which the decision is made).
(3) A legislative instrument under subsection (1) does not commence before the end of the period for disallowing the instrument.