Housing subsidy is payable for each year to F1F2development corporations F3. . ..

Housing subsidy shall be credited F4to the F5corporation's housing account

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.

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.