2(1)If—
(a)on the appointed day the circumstances are such that subparagraph 1(2) does not apply ; and
(b)the beginning of the first accounting year does not coincide with the end of the last full financial year of the unincorporated Agents,
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 end 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.