s 1
(1) Contributions by the Secretary of State in connection with arrangements made under section 121 of the Housing Act 1957 (arrangements between housing associations and local authorities for improvement of housing) remain payable— (a) under section 12 of the Housing (Financial Provisions) Act 1958 and section 12 of the Housing Subsidies Act 1967 as regards arrangements made before 25th August 1969, and (b) under section 21 of the Housing Act 1969 as regards arrangements made on or after that date and approved under subsection (2) of that section before 1st April 1975. (2) The contributions are payable at such times and in such manner as the Treasury may direct, and subject to such conditions, as to records, certificates, audit or otherwise as the Secretary of State may, with the approval of the Treasury, impose. (3) Where such a contribution is paid to a local authority, the authority shall pay to the housing association by way of annual grant an amount not less than the contribution.