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(1) The Chairman of a Committee shall submit a monthly report of the work of the Committee to the regional office of the Commission.

(2) The Chairman of each Committee shall at the expiration of each financial year, submit to the regional office of the Commission an annual report dealing generally with the activities of the Committee within that year which shall include a copy of the audited accounts of the Committee.

(3) The annual report shall be submitted within the first quarter of the succeeding year.