(1) A credit union shall submit an annual compliance statement to the Bank certifying its compliance with the requirements of this Part and the regulations, if any, made in respect of a matter to be prescribed under this Part by the Bank.
(1A) The Bank may prescribe the form and content of the annual compliance statement referred to in subsection (1).
(2) The annual compliance statement referred to in subsection (1) shall be submitted by a credit union to the Bank within 2 months of the end of each financial year of the credit union, or with such other frequency as the Bank may notify to the credit union from time to time.