PART 12Office of Tax Simplification
I1187Annual report
1
The OTS must prepare a report of the performance of its functions in each financial year.
2
The report relating to a financial year must be prepared as soon as reasonably practicable after the end of the financial year.
3
The OTS must—
a
send a copy of the report to the Chancellor of the Exchequer, and
b
publish the report.
4
The Chancellor of the Exchequer must lay a copy of the report before Parliament.
5
For the purposes of this paragraph, each of the following is a “financial year”—
a
the period beginning with the day on which this section comes into force and ending with the following 31 March, and
b
each successive period of 12 months.