(1) A registered undertaking or former registered undertaking shall, in respect of each year -

(a) maintain and furnish to the Authority (before 1 May of the next succeeding year), in such form as may be specified by the Authority, a statement of profit and loss in respect of -

(i) its relevant health insurance business in the State, and

(ii) such other health insurance services, provided by the undertaking, as may be prescribed,

(b) maintain and furnish to the Authority (before 1 May of the next succeeding year), in such form as may be specified by the Authority, a balance sheet in respect of -

(i) its relevant health insurance business in the State, and

(ii) such other health insurance services, provided by the undertaking, as may be prescribed,

and