(1) Informal adjustment pursuant to the informal adjustment agreement provided in Section 43-21-405 shall include: the giving of counsel and advice to the child and his parent, guardian or custodian;
(2) referrals to public and private agencies which may provide benefits, guidance or services to the child and his parent, guardian or custodian;
(3) temporary placement of the child or supervision by the youth court counselor with the consent of the child and his parent, guardian or custodian, subject to youth court review.
(4) If authorized by the youth court, informal adjustment may be commenced after the filing of a petition.
(5) If the child and his parent, guardian or custodian agree to participate in an informal adjustment process, the defense of a failure to provide a speedy trial is waived and a petition may be filed if the informal adjustment process is unsuccessfully terminated under Section 43-21-407.