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4(1)If by the appointed day the unincorporated Agents have not made to the Minister a report on the performance by them of their functions during their last full financial year, the following subparagraph shall apply.
(2)The Crown Agents and the Board, acting jointly, shall, within such time after that day as the Minister may direct, make to the Minister, in such form as he may direct, a report on the performance by the unincorporated Agents of their functions during the period mentioned in paragraph 1(2)(a).
(3)If—
(a)by the appointed day the unincorporated Agents have made to the Minister such a report as is mentioned in sub-paragraph (1); and
(b)the condition specified in paragraph 2(1)(b) is fulfilled,
the preceding sub-paragraph shall apply, but with the substitution of a reference to the period mentioned in paragraph 2(2)(a) for the reference to the period mentioned in paragraph 1(2)(a).
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