(1) This section applies to a development contribution (or the part of a development contribution) that—
(a) is required for transport infrastructure; and
(b) is either—
(i) held, owed to, or required by the Auckland Council by operation of section 35 of the Reorganisation Act; or
(ii) held, owed to, or required by the Auckland Council under a policy described in section 87AB of this Act.
(2) The Auckland Council must hold the development contribution for the purposes for which it was required.
(1) This section applies to a development contribution (or any part of a development contribution) that is required for transport infrastructure and that is—
(a) paid or made to the Council on or after 1 November 2010 under a policy described in section 87AB; or
(b) referred to in section 88(2).
(3) If Auckland Transport undertakes the capital expenditure for which the contribution was required, the Council must transfer the contribution to Auckland Transport as part of the Council's funding of that expenditure.