45.—(1) Subject to subsection (2) of this section and to such regulations as may be made by the Minister for the purposes of this section, the Minister may, with the consent of the Minister for Finance, from time to time make, out of moneys provided by the Oireachtas, during such period not exceeding fifty years as the Minister may determine, a contribution towards the annual loan charges incurred by a body approved by the Minister for the purposes of this section in respect of money borrowed by them for the provision of dwellings or sites for building purposes to which this section applies.

(2) This section applies to dwellings and sites for building purposes in relation to which the Minister is unable to make a contribution by reason only of the fact that the dwellings or sites were provided other than by a housing authority.

(3) A contribution to annual loan charges made under this section shall not exceed in amount the maximum amount of the contribution which could be made by the Minister under section 44 of this Act if the dwellings or sites to which the contribution relates had been provided by a housing authority.

(4) Every contribution to annual loan charges under this section may be made by the Minister either direct to the body or on their behalf to the person from whom was borrowed the money in respect of which such loan charges were incurred.