# London Local Authorities Act 1996, Paragraph 4


Each borough council shall, after each financial year, report to the Secretary of State on any action taken by them, pursuant to paragraph 2 or 3 above, in respect of any deficit or surplus in their account for the year.

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Source: https://www.legislation.gov.uk/ukla/1996/9/schedule/2/paragraph/4 (the official version)
Page: https://openlegislation.uk/london-local-authorities-act-1996/schedule-2/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.