(1) The Minister shall cause to be prepared, in such form as the Minister for Finance may, with the consent of the Minister for Public Expenditure and Reform, direct, an account of the receipts and expenditure for each financial year in respect of arrangements under section 2 of this Act and the accounts shall be audited by the Comptroller and Auditor General and laid before each House of the Oireachtas.

(2) The Minister shall cause to be prepared half-yearly a return showing the aggregate amount of the liabilities of the Minister in respect of arrangements under section 2 of this Act entered into during the preceding six months and the return shall be laid before each House of the Oireachtas.