18Report on strategic missionsS
(1)The Bank must send a mission report to the Scottish Ministers—
(a)within 3 months of receiving a document sent under section 15 (subject to subsection (3)), and
(b)on the first day of each financial year (subject to subsection (4)).
(2)A mission report is a report explaining how the Bank intends to respond to the strategic missions that the Scottish Ministers have set for it.
(3)The Bank need not send a mission report to the Scottish Ministers under subsection (1)(a) in consequence of receiving a document under section 15 if the document's only effect is to bring a strategic mission to an end.
(4)The Bank need not send a mission report to the Scottish Ministers on the first day of a financial year if, on that day—
(a)it has been less than 3 months since the Bank last sent the Ministers a mission report, or
(b)the Bank is due to send the Ministers a mission report under subsection (1)(a) within the next 3 months.
(5)A mission report may be in any form that the Bank considers appropriate and (in particular) may be part of another document.
Commencement Information
I1S. 18 in force at 16.9.2020 by S.S.I. 2020/272, reg. 2