Loans to Ireland Bill

Like my hon. Friend the Member for Nottingham East (Chris Leslie) and the hon. Member for Stone (Mr Cash), I found clause 2(4) a bit tortuous. However, I can see the problem with amendment 2, because if paragraphs (a) and (b) were removed and the subsection read only"““No report is required to be prepared or laid in relation to a period if…no amount of principal or interest in respect of an Irish loan is outstanding at the end of the period””," the point at which the loan is finally discharged—when a final payment is made—could be the one point when a report would not be necessary, whereas I would have thought that that was the one point where a report would have been relevant and necessary. I therefore understand why subsection (4) is framed as it is and why there is a conjunctive that covers all three parts. It is only when no payment is made, no sum is received, and nothing outstanding is due at the end of the period, that no report is made. Otherwise, if all three conditions are not satisfied, there will be a report, as I understand it. Given what Members have said about the scrutiny and oversight that they want the House to have, although subsection (4) reads tortuously it seems to stand, so I would not be persuaded by amendment 2.