(1) The Registrar shall, within 9 months after the end of each financial year -
(a) prepare an annual report specifying the activities of the Registrar during that year, and
(b) submit the report to the Bank.
(2) The Head of Financial Regulation may direct the Registrar as to the form of the report and the matters that the report shall deal with. The Registrar shall comply with any such direction.