(1) The Minister shall from time to time make an agreement with the Authority (a "service agreement") that, in accordance with section 4 and section 6, certain tasks will be carried out, advice given, functions performed or standards adhered to in the performance of its functions in the public interest, and such agreement may encompass such other supplementary matters as the Minister and the Authority may decide.

(2) The Authority shall, without prejudice to section 4, carry out its functions in accordance with any such service agreement.

(3) Where a service agreement has been reached, it shall be a condition of the advance of funds under section 27 that the Authority shall seek at all times to meet the terms of the agreement.

(4) Where the Minister has sought to make a service agreement with the Authority, but it has not been possible to reach such an agreement, the Minister may direct the Authority to accept a service agreement on such terms as he or she may decide.

(5) Without prejudice to subsection (2), a service agreement may contain terms and conditions in relation to accounting matters, pricing of products and recovery of costs.