(1) The Authority shall, not later than 6 months after the end of each year, make a report (in this section referred to as the "annual report") to the Minister on the performance of its functions during the preceding year.

(2) Notwithstanding subsection (1), if, but for this subsection, the first annual report under this section would relate to a period of less than 6 months, the report shall relate to that period and to the year immediately following that period and shall be made as soon as may be, but not later than 6 months after the end of that year.

(3) An annual report shall be in such form, and include such information in respect of the performance by the Authority of its functions, as the Authority considers appropriate or as the Minister may direct.

(4) The Minister shall, as soon as is practicable after receipt of an annual report, cause a copy of the annual report to be laid before each House of the Oireachtas.