(1)If, in reliance on subsection (3)(a) or (b) of section 308, the Treasury decline to act under subsection (2) of that section, they must make a statement to that effect, giving their reasons.
(2)If the Treasury give a direction under section 308 they must make a statement giving—
(a)details of the direction; and
(b)if the direction is given under subsection (6) of that section, their reasons for giving it.
(3)The Treasury must—
(a)publish any statement made under this section in the way appearing to them best calculated to bring it to the attention of the public; and
(b)lay a copy of it before Parliament.