10(1)As soon as reasonably practicable after the end of each financial year, an MDC must—
(a)prepare an annual report on how it has exercised its functions during the year,
(b)include in the report a copy of its audited statement of accounts for the year, and
(c)send a copy of the report to the Mayor and to the London Assembly.
(2)“Financial year”, in relation to an MDC, means a period of 12 months ending with 31 March.