33.—(1) The Department may make grants to registered housing associations in respect of expenditure incurred or to be incurred by them in connection with housing activities.
(2) As respects grants under this Article the following, namely—
(a)the procedure to be followed in relation to applications for grant;
(b)the circumstances in which grant is or is not to be payable;
(c)the method for calculating, and any limitations on, the amount of grant; and
(d)the manner in which, and time or times at which, grant is to be paid,
shall be such as may be specified by the Department, acting in accordance with such principles as it may determine.
(3) In making a grant under this Article, the Department may provide that the grant is conditional on compliance by the association with such conditions as it may specify.
(4) Where—
(a)a grant under this Article is payable to an association, and
(b)at any time property to which the grant relates becomes vested in, or is leased for a term of years to, or reverts to, some other registered housing association,
this Article (including this paragraph) shall have effect after that time as if the grant, or such proportion of it as is specified or determined under paragraph (5), were payable to that other association.
(5) The proportion referred to in paragraph (4) is that which, in the circumstances of the particular case—
(a)the Department, acting in accordance with such principles as it may determine, may specify as being appropriate; or
(b)the Department may determine to be appropriate.