(1) In this section 'appropriate inspector' means -

(a) the inspector who has last given notice in writing to the credit union that he or she is the inspector to whom the credit union is required to deliver the return required under subsection (2), or

(b) where there is no such inspector as is referred to in paragraph (a), the inspector of returns.

(2) On or before 31 March in each year of assessment, every credit union shall prepare and deliver to the appropriate inspector a return, in such form as may be prescribed or authorised by the Revenue Commissioners specifying -

(a) the name and address of the holder or holders, as the case may be, of each special term share account which was opened during the previous year of assessment,

(b) whether the account is a medium term share account or a long term share account, and

(c) the date of opening of such account.

(3) Sections 1052 and 1054 shall apply to a failure by a credit union to deliver a return required by subsection (2) and to each and every such failure, as they apply to a failure to deliver a return referred to in section 1052.