4.—(1) Subject to such regulations as may be made by the Minister for the purposes of this section—

(a) a housing authority may pay a subsidy towards the rent of a house leased to a person under a shared ownership lease, and

(b) the Minister may, with the consent of the Minister for Finance, out of moneys provided by the Oireachtas—

F7[(i) pay a subsidy to a housing authority towards the rent of a house leased to a person under a shared ownership lease by the authority or F8[an approved housing body], as the case may be,]

(ii) recoup to a housing authority all or part of a subsidy paid by the authority under paragraph (a).

(2) Where a subsidy is paid under subsection (1), the amount of the rent reserved under the lease shall be reduced by an amount equal to the amount of the subsidy.

(3) Regulations under this section may, in particular, but without prejudice to the generality of subsection (1), make provision in relation to all or any one or more of the following:

(a) the amount of the subsidy and the manner of its determination;

(b) the amount or proportion of the subsidy that may be recouped by the Minister;

(c) the class or classes of houses in respect of which the subsidy may be paid;

(d) the class or classes of persons or households in respect of which the subsidy may be paid;

(e) requirements in relation to the financial and family circumstances of persons occupying a house in respect of which the subsidy may be paid;

(f) requirements in relation to the occupation and maintenance of a house in respect of which the subsidy may be paid;

(g) requirements in relation to the floor area of a house in respect of which the subsidy may be paid, measured in such manner as may, from time to time, be determined by the Minister;

(h) requirements in relation to standards of construction, works and repair and the availability in a house, in respect of which the subsidy may be paid, of water, sewerage and other services;

(i) the manner in and time within which an application for the subsidy shall be made;

(j) the conditions under which the subsidy may be paid;

(k) requirements in relation to the payment under any enactment (including this Act) of any other grant, subsidy or assistance in respect of a house concerned.