Contributions by the Secretary of State under section 17 of the [1968 c. 31.] Housing (Financial Provisions) (Scotland) Act 1968 remain payable in connection with arrangements made under section 121 of the [1950 c. 34.] Housing (Scotland) Act 1950 or section 155 of the [1966 c. 49.] Housing (Scotland) Act 1966 (arrangements between housing associations and local authorities for improvement of housing) and approved on or after 16th August 1964 and before 1st April 1975.

The contributions are payable at such times and in such manner as the Treasury may direct, and subject to such conditions as to records, certificates, audit or otherwise as the Secretary of State may, with the approval of the Treasury, impose.

Where such a contribution is paid to a local authority, the authority shall pay to the housing association by way of annual grant an amount not less than the contribution.