A manager of one or more Scottish Crown Estate assets must prepare in respect of each financial year a report on its management of the assets during that year.

The report must, in particular, include an assessment of how the manager's activities during the financial year have contributed to the meeting of its objectives for that year.

For the purposes of subsection (2), a manager's objectives for the financial year are its objectives as set out in a plan prepared under section 24(1) for a period which includes all or part of that year.

But a direction given, revised or revoked by the Secretary of State is not to be included in the list, or otherwise mentioned in the report, if the Secretary of State so notifies the manager.

Otherwise, it is for the manager to determine the form and content of the report.

A manager (other than the Scottish Ministers) must send a copy of its report to the Scottish Ministers no later than 3 months after the end of the financial year to which the report relates.

This section does not apply to Crown Estate Scotland (but see article 18 of the Crown Estate Scotland Order).