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(1)Where the local housing authority have approved an application for a grant, they shall pay the grant, subject to section 512 (conditions as to completion of works).
(2)The grant may be paid—
(a)after the completion of the works towards the cost of which it is payable, or
(b)in part by instalments as the works progress and the balance after completion of the works.
(3)Where a grant is paid in instalments, the aggregate of the instalments paid before the completion of the works shall not at any time exceed—
(a)in the case of an intermediate grant, the appropriate percentage of the total cost of the works so far executed;
(b)in the case of an improvement grant, special grant or repairs grant, an amount bearing to that total cost the same proportion as the amount of the grant fixed by the authority bears to the eligible expense.
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