(1)In the event of a breach of a grant condition, the local housing authority may demand that the owner for the time being of the dwelling repay the grant forthwith.
(2)The amount payable is—
(a)where the grant related to a single dwelling, the amount of the grant, or
(b)where the grant related to two or more dwellings, such part of the grant as appears to the authority to be referable to the dwelling to which the breach relates,
together with compound interest on that amount or part as from the certified date, calculated at such reasonable rate as the local housing authority may determine and with yearly rests.
(3)The authority may determine not to make such a demand or may demand a lesser amount.
(4)On satisfaction of the liability arising from a demand under this section, all conditions of the grant cease to be in force with respect to the dwelling in question.