12. Where a contract for the acquisition of an estate in an approved site or in premises on such a site is terminated, the housing authority shall—N.I.
(a)where the other party to the contract was a preferred applicant, dispose of the site or premises in accordance with paragraph 9, or, if the site is, or premises are, not disposed of in accordance with that paragraph, dispose of it or them in accordance with paragraph 10;
(b)where the other party to the contract was not a preferred applicant, dispose of the site or premises in accordance with paragraph 10.