(1)  The Nominal Insurer is to prepare an annual report for the financial year ended 30 June 2004 and each subsequent financial year.

(2)  The annual report is to –

(a) be in a form approved by the Minister; and

(b) incorporate the financial statements prepared for the relevant financial year under section 131AAA .

(3)  The Minister is to lay a copy of the annual report of the Nominal Insurer before each House of Parliament within 4 months after the end of the financial year to which the report relates.

(4)  If the Minister is unable to lay a copy of the annual report before a House of Parliament within the period specified in subsection (3) because either House of Parliament is not sitting at the expiration of that period or on that day, the Minister is to –

(a) forward a copy of the annual report to the Clerk of that House of Parliament immediately after the expiration of that period or that day; and

(b) lay a copy of the annual report before that House within the next 7 sitting-days of that House.