(1)The Secretary of State must prepare a report before the end of each reporting period about the progress that has been made during that period towards putting in place a system for streamlined company registration.
(2)The following are reporting periods—
(a)the period beginning with the day on which this section comes into force and ending on 31 March 2016;
(b)the subsequent period of 12 months ending on 31 March 2017.
(3)The first report must set out the steps which the Secretary of State expects will be taken during the next reporting period towards putting the system in place.
(4)Both reports must include the Secretary of State's assessment as to when the system for streamlined company registration will be in place.
(5)The second report must include an assessment of what steps, if any, the Secretary of State expects to take to put in place a system for the streamlining of other information delivery processes relating to businesses.
(6)The Secretary of State must—
(a)publish each report, and
(b)lay each report before Parliament.