Yes, 3.6.5 (a) deals with these sub-scale settings.
Area QNH comes from an area forecast and is the QNH setting for the defined region covered by the forecast. It is guaranteed to be within 5 hPa of any local QNH in the area.
Local QNH is the actual QNH (sea level pressure) at the aerodrome. It may differ slightly from area QNH but will be pretty close. Local QNH is very accurate but applicable only to the local area of the aerodrome.
QFE is the pressure at the aerodrome. With the aircraft parked and QFE set on the sub-scale, the altimeter will read 0 ft.
Standard Pressure Setting is 1013 hPa set on the sub-scale and in this case the altimeter will read your Pressure Height. If an aircraft is going to be cruising above 10000 ft, it will need to set the Standard pressure Setting on the sub-scale and fly at defined "Flight Levels"
For more information on altimetry, check out this graphic from the old VFG:
www.bobtait.com.au/vfg/#225/z
Cheers,
Rich