(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.