12.— (1) In addition to performing any other functions conferred on it by or under this Act, an awarding authority shall—

(a) assess and review resources required by it for the purposes of performing its functions under this Act,

(b) furnish to the Minister and to any other persons specified in the request any information so specified with respect to applications and how they are processed when requested to do so by the Minister,

(c) keep all proper and usual accounts of moneys received by it or expenditure of such moneys incurred by it in relation to student grants,

F17[(ca) keep all proper and usual accounts of moneys received by it or expenditure of such moneys incurred by it in relation to bursaries and scholarships,]

(d) carry out an audit of accounts and furnish an auditor’s report to the Minister when requested to do so by the Minister,

(e) review the report of an inquiry officer furnished to it under section 22(4) and act as it considers appropriate having regard to its functions under this Act, and

(f) furnish to the Minister any specified information in relation to the institution of proceedings for recovery of debt under section 24 (3).

F17[(1A) An awarding authority shall, as respects a bursary scheme or scholarship scheme, whenever requested to do so by the Minister administer or, as may be appropriate, assist with the administration of—

(a) the identification of students who are eligible for bursaries or scholarships under the bursary scheme or scholarship scheme, as the case may be, concerned,

(b) the awarding of such bursaries or scholarships to students, and

(c) the payment, out of funds provided by the person who established or is responsible for the bursary scheme or scholarship scheme, as the case may be, concerned to the awarding authority for that purpose, of such bursaries or scholarships to the students to whom awards are made or to an approved institution on behalf of such students,

in accordance with the terms of the bursary scheme or scholarship scheme, as the case may be, concerned.]

(2) An awarding authority has all such powers as are necessary for or incidental to the performance of its functions under this Act.

(3) The Minister may from time to time formulate policies and issue directions to an awarding authority as respects grants F17[, bursaries or scholarships] and, in performing any functions conferred on it by or under this Act, an awarding authority shall implement those policies and directions.

(4) The Minister shall from time to time appoint persons to carry out periodic inspections, reviews and audits in relation to the performance by awarding authorities of their functions under this Act and to furnish a report in relation to such inspections, reviews and audits to the Minister and the persons so appointed shall carry out such inspections and reviews and furnish such reports accordingly.