(1) As soon as reasonably practicable after the end of each reporting period, the Treasury must -
(a) prepare a report about the exercise during that period of the powers conferred on them by this Part, and
(b) lay a copy of the report before Parliament.
(2) The reporting periods are -
(a) the period beginning when this Part comes into force and ending with the next 31 March, and
(b) each succeeding period of three months.