Part 5Finance
Borrowing
123I1Accounts relating to loans
1
The Secretary of State must for each financial year prepare accounts in such form and manner as the Treasury may direct of—
a
loans made by the Secretary of State under section 121 or treated as made by paragraph 11(6) of Schedule 3 or paragraph 44(6) of Schedule 11, and
b
repayments and payments of interest made to the Secretary of State in respect of those loans.
2
The Secretary of State must send accounts under subsection (1) relating to a financial year to the Comptroller and Auditor General no later than five months after the end of the financial year.
3
The Comptroller and Auditor General must—
a
examine, certify and report on accounts sent under subsection (2), and
b
lay copies of the accounts, together with the report prepared under paragraph (a), before each House of Parliament.