421Housing subsidy.E+W
(1)Housing subsidy is payable for each year to [F1new town corporations and the Development Board for Rural Wales].
(2)Housing subsidy shall be credited [F2to the body’s housing account]
(3)Housing subsidy shall be paid by the Secretary of State at such times, in such manner and subject to such conditions as to records, certificates, audit or otherwise as he may, with the agreement of the Treasury, determine.
(4)Payment of housing subsidy is subject to the making of a claim for it in such form, and containing such particulars, as the Secretary of State may from time to time determine.
Textual Amendments
F1Words substituted by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 77(1)(3)
F2Words substituted for s. 421(2)(a)(b) by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 194(1), Sch. 11 para. 77(2)(3)
Modifications etc. (not altering text)
C1Ss. 421–427A: by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 79(3) it is provided that sections 421 to 427A of the Housing Act 1985 (which are superseded, in their application to local housing authorities, by that section 79 and sections 80 and 86 of that 1989 Act) shall cease to apply in relation to such authorities