1(1)Subject to sub-paragraph (2), contributions by the Secretary of State to a local authority remain payable—E+W
(a)under section 9 of the M1Housing (Financial Provisions) Act 1958 (contributions over a period of 20 years towards the cost to local authorities of works of conversion or improvement) in pursuance of proposals approved before 25th August 1969, and
(b)under section 13 of the M2House Purchase and Housing Act 1959 (contributions over a period of 20 years in respect of standard amenities provided by local authorities), in pursuance of applications approved before 25th August 1969.
(2)No contribution is payable under this paragraph in respect of a dwelling within a local housing authority’s Housing Revenue Account or a new town corporation’s housing account.
(3)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.
(4)The amount or duration of any contribution payable under this paragraph to which section 25(2) of the Housing (Financial Provisions) Act 1958 applied immediately before the commencement of this Act (payments arising out of the exercise of housing powers by county councils) may be reduced by the the Secretary of State at his discretion.