14   Covenants in leases

(1)  Subject to this section, where the lease of any land set apart as the site for a building under section 9 (2) (e) (in this section referred to as the building site) contains a covenant on the part of the lessee not to commence the erection of a building on the building site, or any work preparatory or incidental thereto, without the written consent of the Corporation:

(a)  the Corporation may give its consent upon the application of a person entitled to apply to a council for its approval to the erection of a building on the building site, and

(b)  the Corporation may impose conditions in giving its consent.

(2)  The Corporation shall not give a consent pursuant to subsection (1) unless:

(a)  the application therefor is accompanied by such plans and specifications of the building in respect of which the consent is sought, and such other information in respect of that building, as may be prescribed or as the Corporation may require, and

(b)  the application therefor and the accompanying plans and specifications and other information disclose that the building in all respects will be in conformity with the environmental planning instrument that applies to or in respect of the building site and with the proposals of the Corporation as to:

(i)  the use to which the building will be put,

(ii)  the height and general external design and appearance of the building,

(iii)  the area of the building site to be covered by the building, and

(iv)  the situation of the building in relation to the boundaries of the building site.

(3)  Where a covenant, condition or stipulation in a lease granted by the Corporation excludes, or is inconsistent with the operation of a provision of an Act passed before or after the appointed day, being a provision whereby, but for this subsection:

(a)  a right would be conferred, or an obligation imposed, on a lessor or lessee, or

(b)  a covenant, condition or stipulation would be implied, or be deemed to be included, in the lease,

      the provision shall not to the extent of the exclusion or inconsistency, but subject to any express provision of the lease, operate in respect of the lease.