(1) This section applies if, under an agreed delivery arrangement, an
authority holder is to deliver an offset condition in whole or in part by a
financial settlement offset.
(2) It is a condition of the authority that,
before the authority holder starts any part of the prescribed activity to
which the offset condition relates, the holder must pay the amount required
by, and in the way stated in, the agreed delivery arrangement—
(a) if the
offset condition relates to a matter of local environmental significance that
is prescribed as a prescribed environmental matter—to the local government
that is the administering agency; or
(b) if the offset condition relates to a
matter of State environmental significance that is prescribed as a
prescribed environmental matter and further prescribed as relevant for this
section—to the local government that is the administering agency; or
(3)
The authority holder may pay the amount required by the agreed delivery
arrangement for a stage of the prescribed activity only if the authority
allows the prescribed activity to be carried out in stages.
