163Agreements

163 Agreements An agreement required to be entered into by a determination under section 162— (a) must be in writing under seal; and (b) if its terms are not specified in the determination— (i) must provide that the owner agrees to be bound by the covenants in the agreement; and (ii) may prohibit, restrict or regulate the use or development of land or a building or any matter or thing related to that land or building; and (iii) may provide that the agreement lapses at the end of a specified period, on the happening of a specified event, or when the land ceases to be used or developed for a specified purpose; and (iv) is subject to the provisions of this Act concerning termination and variation of agreements; and (c) may apply to land even though it was not the subject of the application for the determination.