(1) A part of a development approval lapses at the end of the following period
(the
"currency period" )—
(a) for any part of the development approval relating
to a material change of use—if the first change of use does not happen
within—
(i) the period stated for that part of the approval; or
(ii) if no
period is stated—6 years after the approval starts to have effect;
(b) for
any part of the development approval relating to reconfiguring a lot—if a
plan for the reconfiguration that, under the Land Title Act , is required to
be given to a local government for approval is not given to the
local government within—
(i) the period stated for that part of the
approval; or
(ii) if no period is stated—4 years after the approval starts
to have effect;
(c) for any other part of the development approval—if the
development does not substantially start within—
(i) the period stated for
that part of the approval; or
(ii) if no period is stated—2 years after the
approval starts to take effect.
Note—
For the lapsing of a development
approval that was a PDA development approval, see also the
Economic Development Act 2012, section 51AK .
(2) If part of a development
approval lapses, any monetary security given for that part of the approval
must be released.