For the purpose of obtaining the information necessary for the appreciation of economic trends and the provision of a statistical service for industry and for the discharge by government departments of their functions, it shall be lawful for a competent authority by notice in writing served on any person carrying on an undertaking to require that person to furnish, in such form and manner and within such time as may be specified in the notice, such periodical or other estimates or returns, about such of the matters set out in the Schedule to this Act as may be so specified.

The notice shall state that it is served under this section of this Act and generally the purpose for which the estimates or returns are required.