66.—(1) Where the Executive has approved an application for a grant, it shall pay the grant, subject to the following provisions of this Chapter.
(2) The grant may be paid—
(a)in whole after the completion of the eligible works, or
(b)in part by instalments as the works progress and the balance after completion of the works.
(3) Where a grant is paid by instalments, the aggregate of the instalments paid before the completion of the eligible works shall not at any time exceed nine-tenths of the amount of the grant.