With the rack in the middle position, preheat the oven to 350°F (180°C).
Leg of Lamb
In a roasting pan or large baking dish, combine the carrots, garlic, rosemary, bay leaves and half of the oil. Season with salt and pepper. Set aside.
In a small bowl, combine the honey and vinegar.
In a large skillet, brown the lamb in the remaining oil. Season with salt and pepper. Place the lamb in the roasting pan over the vegetables. Add the broth. Brush with the honey mixture before and during cooking. Bake for 1 hour 10 minutes or until a thermometer inserted in the centre of the meat, without touching the bone, reads 122°F (50°C) for medium rare. Cover with foil. Let rest for 15 minutes. The temperature should rise to about 135°F (57°C).
Meanwhile, in a pot, brown the shallots in the butter. Season with salt and pepper. Add the flour and cook for 1 minute, stirring constantly. Add the broth and honey. Bring to a boil, stirring constantly with a whisk. Let reduce until the sauce is slightly syrupy. You should have about 1 ½ cups (375 ml) of sauce. Adjust the seasoning.
Slice the lamb. Serve with the carrots, garlic and sauce.