45A.— (1) The Executive shall prepare in respect of each year (or such longer period as the Minister may, following receipt of the third report under this section, prescribe by regulations) a report containing information in relation to—

(a) the effects on the Scheme of applications and appointments made under sections 14A, 14F, 14G, 14H, 14K and 14L, determinations under sections 14C(2) and 14M(3), reviews under section 14E, decisions on repayment events under section 14I(2) and repayments under section 14J,

(b) an assessment of likely trends arising from the effects on the Scheme of those applications, appointments, determinations, reviews and repayments, and

(c) such other matters as may be specified by the Minister.

(2) The Executive shall send a copy of each report prepared under this section to the Minister—

(a) before the end of June in the year following that to which the report relates, or

(b) where the Minister has made regulations under subsection (1), before the end of June in the year following the last year to which the report relates.

(3) For the purposes of preparing a report under subsection (1) and, subject to section 45(7), the Executive shall keep records of information in relation to—

(a) applications and appointments made under sections 14A, 14F, 14G, 14H, 14K and 14L,

(b) farms and relevant businesses to which such applications and appointments relate,

(c) determinations under sections 14C(2) and 14M(3),

(d) reviews under section 14E,

(e) decisions on repayment events under section 14I(2),

(f) repayments under section 14J, and

(g) such other matters as may be specified by the Minister.

(4) The first report under this section shall be prepared by the Executive not later than 2 years after section 26 of the Act of 2021 comes into operation.]