(1)After entering into transfer arrangements the Secretary of State shall lay before Parliament a report about the arrangements.
(2)The report must include information about the extent to which the arrangements give good value; and for that purpose the report must reflect any guidance given by the Treasury about assessing value for money (including guidance to the accounting officer of the Secretary of State’s department).
(3)The report must be laid during the period of 3 months beginning with the date on which the Secretary of State enters into the transfer arrangements.
(4)This section does not apply to further transfer arrangements (despite section 3(2)).