(1)As soon as is reasonably practicable after the end of each financial year of the Council it must prepare a report on its activities in that year and send a copy of the report to the Secretary of State.
(2)A report—
(a)must be in such form and contain such information as the Secretary of State may specify in directions to the Council;
(b)must set out any other directions given to the Council under this Part in the financial year to which the report relates.
(3)Following receipt of a copy of a report under this section the Secretary of State must lay a copy of it before each House of Parliament and arrange for copies of it to be published in such manner as he thinks appropriate.