This section applies where copies of a report under section 114A above have been sent under section 114A(4) above.
The executive of the authority (within the meaning of Part II of the Local Government Act 2000) shall consider the report at a meeting where it shall decide whether it agrees or disagrees with the views contained in the report and what action (if any) it proposes to take in consequence of it.
The meeting must be held not later than the end of the period of 21 days beginning with the day on which copies of the report are sent.
During the prohibition period the course of conduct which led to the report being made shall not be pursued.
If subsection (4) above is not complied with, and the executive makes any payment in the prohibition period as a result of the course of conduct being pursued, the executive shall be taken not to have had power to make the payment (notwithstanding any obligation to make it under contract or otherwise).
As soon as practicable after the executive has concluded its consideration of the chief finance officer's report, the executive shall prepare a report which specifies—
As soon as practicable after the executive has prepared a report under subsection (6), the executive shall arrange for a copy of it to be sent to—
In this section—
If subsection (3) above is not complied with, it is immaterial for the purposes of subsection (8)(b)(ii) above.
The nature of the decisions made at the meeting is immaterial for the purposes of subsection (8)(b)(ii) above.
In subsection (8)(b)(ii) above "business day" means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday in England.