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(1)The conditions for assistance by way of reinstatement grant are, subject to any order under subsection (2)—
(a)that the dwelling is a house (as defined in section 575);
(b)that if the work required to reinstate the dwelling (together with any other work which the local housing authority are satisfied the applicant proposes to carry out) were carried out—
(i)the dwelling would be likely to provide satisfactory housing accommodation for a period of at least 30 years, and
(ii)an individual acquiring the freehold of the dwelling with vacant possession would be likely to be able to arrange a mortgage on satisfactory terms with a lending institution;
(c)that giving assistance by way of reinstatement grant is justified having regard, on the one hand, to the amount of reinstatement grant that would be payable in respect of the dwelling and, on the other hand, to the likely value of the freehold of the dwelling with vacant possession after the work required to reinstate it has been carried out; and
(d)that the amount of reinstatement grant would not be likely to exceed the aggregate of the price payable on the acquisition of the applicant’s interest in the dwelling in pursuance of this Part and the amount to be reimbursed under section 552 (reimbursement of expenses incidental to repurchase).
(2)The Secretary of State may by order amend the conditions set out in subsection (1) so as to modify or omit any of the conditions or to add or substitute for any of the conditions other conditions.
(3)An order—
(a)may make different provision for different classes of case,
(b)shall be made by statutory instrument, and
(c)shall not be made unless a draft of it has been laid before and approved by a resolution of each House of Parliament.
(4)An order does not affect an application for assistance made before the order comes into force.
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