(1)A new water and sewerage authority shall provide the Secretary of State with such information relating to the exercise (and proposed exercise) of their functions as he may from time to time require, and for that purpose shall—
(a)permit any person authorised to do so by the Secretary of State to inspect and make copies of their accounts, books, documents or papers; and
(b)provide that person with such explanations in relation to the things inspected as the person may reasonably require.
(2)As respects, and as soon as possible after the end of, each financial year, a new water and sewerage authority shall make to the Secretary of State a report on the exercise of their powers, and the performance of their functions.
(3)The Secretary of State shall lay before each House of Parliament a copy of each report received by him under subsection (2) above.