2Reports
1
The Treasury must, in relation to each relevant period—
a
prepare a report about Irish loans, and
b
lay it before the House of Commons as soon as practicable after the end of that period.
2
“Relevant period” means—
a
the period beginning with 9 December 2010 and ending with 31 March 2011, and
b
each subsequent period of 6 months.
3
Each report must include details of—
a
any payments made by the Treasury by way of an Irish loan in the period to which the report relates,
b
any sums received by the Treasury in that period by way of repayment of principal or the payment of interest in respect of an Irish loan,
c
the aggregate amount of principal and interest in respect of Irish loans which is outstanding at the end of that period,
d
the remaining term of each Irish loan which is outstanding at the end of that period, and
e
the original term of each Irish loan in respect of which a payment was made by the Treasury by way of an Irish loan in that period.
4
No report is required to be prepared or laid in relation to a period if—
a
no payments within subsection (3)(a) are made in the period,
b
no sums within subsection (3)(b) are received in the period, and
c
no amount of principal or interest in respect of an Irish loan is outstanding at the end of the period.
5
This section ceases to have effect—
a
if no report is required to be prepared in relation to the relevant period ending with 31 March 2016, on 1 April 2016, and
b
otherwise, on the day following the end of the first subsequent relevant period in relation to which no report is required to be prepared.