(1) At the end of each month the mortgagee shall notify the Authority, in the form set out as Form 12 in Schedule 1 to these Regulations of all mortgagors who have failed to make any payment or to perform any other covenant or obligation under the mortgage of which the mortgagee has actual knowledge.
(2) If after the making of a report under this regulation the mortgagor shall perform the covenant or obligation occasioning such report, the mortgagee shall notify the Authority accordingly.