(1)  A condition imposed on a permit may specify that all or part of a permit does not take effect until –

(a) the expiry of a specified period; or

(b) the occurrence of a specified event or a specified set of circumstances.

(2)  Without limiting the generality of subsection (1)(b) , a set of circumstances under that subsection may be that, if the permit has been granted with a condition imposed under section 117 , evidence of financial assurance is provided.