(1)  If the Commission, under section 42B(1) , grants a permit, or confirms a decision of a planning authority to grant a permit, the permit takes effect on whichever is the latest of the following dates:

(a) the date on which the Commission decides under section 40Q to approve the draft amendment of an LPS to which the permit relates;

(b) a date specified in the permit;

(c) if any other approvals under this Act or another Act are required for the proposed use or development to which the permit relates – the date on which all those approvals have been obtained;

(d) if under the permit an agreement is required to be entered into – the date on which the agreement is executed.

(2)  A permit in relation to a use or development in respect of which a permit referred to in subsection (1) is granted lapses if the use or development is not substantially commenced before the end of the period of –

(a) 2 years after the date on which the permit is granted; or

(b) 4 years after the date on which the permit is granted, if the planning authority has granted an extension under subsection (4) ; or

(c) 6 years after the date on which the permit is granted, if the planning authority has granted a final extension under subsection (5) .

(3)  A person may apply to a planning authority for an extension, or a final extension, under subsection (4) or (5) at any time before the end of the period of 6 months from the day on which the permit has lapsed.

(4)  If the use or development in respect of which a permit was granted is not, or is unlikely to be, substantially commenced before the permit would otherwise lapse under subsection (2)(a) , the planning authority may grant, once only, an extension of the period during which that use or development must be substantially commenced.

(5)  If the use or development in respect of which a permit was granted is not, or is unlikely to be, substantially commenced before the permit would otherwise lapse under subsection (2)(b) , the planning authority may grant, once only, a final extension of the period during which that use or development must be substantially commenced.

(6)  In determining whether to grant an extension, or a final extension, of the period of a permit under subsection (4) or (5) , the planning authority may consider any matter it thinks fit, including whether the SPPs or an LPS has been amended since the permit was issued.

(7)  If an application is made under subsection (3) , for an extension, or a final extension, under subsection (4) or (5) of a permit, within the end of the period of 6 months from the day on which the permit has lapsed and the period of a permit is extended under subsection (4) or (5) , the permit is to be taken to not have lapsed on that day.