The conditions that apply to a payment (the funding payment ) of Commonwealth funding for an AusLink Black Spot Project (the funded project ) to an eligible funding recipient (the funding recipient ) are:

(a) the mandatory conditions (see Subdivision B); and
(b) either:
(i) if the funding payment is provided in accordance with section 78—the conditions (if any) determined under Subdivision C; or
(ii) if the funding payment is provided in accordance with a funding agreement—the conditions specified in the funding agreement.