(1)  If the Treasurer agrees under section 102AA(2) to defer an obligation of a person to pay an amount of royalty under this Act, then, despite section 102 , the person is not liable to pay, except in accordance with the conditions of the agreement, the amount of royalty, until –

(a) the end of the period for which the agreement is in force; or

(b) the date specified in a condition of the agreement as the date on which the amount of the royalty is due; or

(c) the agreement is revoked under subsection (3)  –

whichever occurs first.

(2)  If a person fails to comply with the conditions on which an agreement to defer his or her obligation to pay royalty is given under section 102AA(2) , the Treasurer may issue a notice of demand notifying the person of the failure and asking the person to show cause within 14 days after the date on which the notice is given to the person why the Treasurer should not revoke the agreement.

(3)  The Treasurer may, after 14 days after the date on which a notice is given to a person under subsection (2) , revoke an agreement under subsection (1) .