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37. (1) As soon as practicable, but in any case not later than 6 months, after the end of each financial year of the Council, the Council shall prepare, and submit to the Minister, a report (in this section referred to as the “annual report”) in writing of its activities during that year.
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(2) If, under subsection (1), the first annual report would relate to a period of less than 6 months, that report shall, notwithstanding that subsection, instead relate to the activities of the Council during that period and the financial year of the Council immediately following that period and the Council shall prepare, and submit to the Minister, the first annual report as soon as may be, but not later than 6 months, after the end of that financial year.
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