(1) If the authority does not include a requirement mentioned in section 173(1), the
"relinquishment condition" for the authority is the relinquishment condition under section 74A, with the following changes—(a) the required percentage is 5% instead of 8.33%;(b) the reference in sections 74C(2) to the authority originally taking effect is a reference to the start of its current term.
(2) Part 6A, division 2, subdivision 1, applies to the authority, subject to the changes under subsection (1).