With this it will be convenient to discuss manuscript amendment 2, page 1, line 13, at end insert—
“(3A) As soon as possible after the end of each annual reporting period the Secretary of State must lay a report before Parliament which includes an assessment of the income accruing to the Treasury as a result of the grant of leases in reliance on subsection (1) during the annual reporting period.
(3B) ‘Annual reporting period’, in relation to subsection (3A), means—
(a) the period of 12 months beginning with the date on which this Act is passed, and
(b) each successive period of 12 months.”