(1)Subject to the provisions of this Act, the Secretary of State shall undertake to pay, and pay, in respect of each completed approved house, an annual Exchequer contribution for a period of sixty years.
(2)An annual Exchequer contribution payable under this section shall be—
(a)in respect of each house provided by a local authority other than a house such as is mentioned in paragraphs (b) to (e) of this subsection, twenty-four pounds;
(b)in respect of each house provided by a local authority in accordance with arrangements made with the approval of the Secretary of State as being desirable by reason of special circumstances for the provision of housing accommodation in any area for persons coming to that area in order to meet the urgent needs of industry, and so coming wholly, or, in the case of a local authority who are a county council, wholly or partly, from outside the district of the authority, thirty pounds;
(c)in respect of each house provided by a local authority by way of housing accommodation for the agricultural population (being a house in respect of which the Secretary of State is of opinion that a contribution under this paragraph should be paid), thirty-six pounds;
(d)in respect of each house provided by a local authority in pursuance of any overspill agreement within the meaning of Part II of this Act, forty-two pounds;
(e)in respect of each house provided by a local authority, being an exporting authority within the meaning of Part II of this Act, in the district of another local authority (being a house in respect of which the Secretary of State is of opinion that a contribution under this paragraph should be paid), forty-two pounds; or
(f)in respect of each house provided by a development corporation otherwise than in pursuance of authorised arrangements, forty-two pounds.
(3)Without prejudice to the provisions of subsection (2) of section one hundred and twenty-eight of the principal Act (which subsection relates to the time and manner in which contributions under certain enactments shall be payable and to the conditions under which such contributions are payable) and section one hundred and twenty-nine of that Act (which relates, among other things, to the failure of a local authority to discharge any' duty, or exercise any power, under certain enactments) the payment of any Exchequer contribution under paragraph (b), (d) or (e) of the last foregoing subsection shall be subject to such conditions as may be specified by the Secretary of State when undertaking to pay the contribution and the Secretary of State may reduce the amount of any such contribution, or suspend or discontinue payment of any such contribution, if there is in his opinion any failure to comply with any condition so specified in relation thereto.
(4)Where the Secretary of State undertakes to pay an annual Exchequer contribution under any one of paragraphs (a) to (f) of subsection (2) of this section in respect of a house no contribution shall be paid in respect of the same house under any other of those paragraphs.
(5)For the purposes of subsections (1) and (2) of section eighty-seven of the principal Act (which relates to Exchequer contributions in respect of housing accommodation provided by housing associations under authorised arrangements) the Secretary of State may direct that any approved house provided by a housing association in pursuance of authorised arrangements shall be treated as if it were a house of the class mentioned in such one of paragraphs (a), (b) or (c) of subsection (2) of this section as the Secretary of State may determine to be appropriate.
(6)In this section the expression " county " does not include any county of a city.