Yes T1 is your Tool number, M06 is the same as M6 this is for a Tool change call
The last 2 lines F = Feed Rate at which it is going to move that axes at Y axes is going to move at 3600mm per min, can your machine move that fast
I would be concerned with that Z axes move, it has a G0Z2.0 ( this is a Rapid up move ) then below it there is a Negative G1Z-5.0 move this could crash you part if this is the end of your program, if it is going down to cut your part then it is most likely the F Rate is to high