1(1)If by the appointed day—
(a)the unincorporated Agents have not prepared a statement of accounts in respect of their last full financial year ; or
(b)the statement of accounts prepared by them in respect of that year has not been audited,
the following sub-paragraph shall apply.
(2)It shall be the duty of the Crown Agents and the Board, acting jointly—
(a)to prepare in respect of the period between the beginning of the last full financial year of the unincorporated Agents and the beginning of the first accounting year a statement of accounts dealing, with the unincorporated Agents ; and
(b)to submit that statement to the Minister within such time after the appointed day as the Minister may direct.