If in the opinion of the Commission any relevant expenditure has made or will make a significant contribution towards the preservation or enhancement of the character or appearance of any conservation area ... or any part of such an area, they may make grants or loans for the purposes of defraying the whole or part of that expenditure.
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Expenditure is relevant for the purposes of subsection (1) ... if it has been or is to be incurred in or in connection with, or with a view to the promotion of, such preservation or enhancement as is mentioned in that subsection.
A grant or loan under this section may be made subject to such conditions as the Commission ... may think fit to impose.
Any loan under subsection (1) shall be made on such terms as to repayment, payment of interest and otherwise as the Commission may determine.
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