(1) Every syndicate shall provide the Bank with accounts and statements in respect of each class of assurance business carried on in the State by the syndicate during the year preceding the year in which the accounts and statements are given. The accounts and statements are to be in such form and manner and to be provided at such times as the Bank directs.
(2) The requirement under subsection (1) is instead of any provision of the Act of 1909 requiring a syndicate or a member of a syndicate to furnish any account or statement under that Act.
(3) As soon as practicable after receiving the account and statements provided under subsection (1), the Bank shall arrange for a copy of them to be laid before each House of the Oireachtas.