18Report on strategic missions
(1)The Bank must send a mission report to the Scottish Ministers—
(a)within 3 months of receiving a document sent under section 15 (subject to subsection (3)), and
(b)on the first day of each financial year (subject to subsection (4)).
(2)A mission report is a report explaining how the Bank intends to respond to the strategic missions that the Scottish Ministers have set for it.
(3)The Bank need not send a mission report to the Scottish Ministers under subsection (1)(a) in consequence of receiving a document under section 15 if the document’s only effect is to bring a strategic mission to an end.
(4)The Bank need not send a mission report to the Scottish Ministers on the first day of a financial year if, on that day—
(a)it has been less than 3 months since the Bank last sent the Ministers a mission report, or
(b)the Bank is due to send the Ministers a mission report under subsection (1)(a) within the next 3 months.
(5)A mission report may be in any form that the Bank considers appropriate and (in particular) may be part of another document.