(1) A licensee shall—
(a) for the financial year beginning on the day on which it commences to carry on securities business; and
(b) for each subsequent year,
submit to the Commission, within 90 days after the end of the financial year, audited financial statements prepared in accordance with international accounting standards, and which contain such additional information as may be prescribed.
(2) A licensee who contravenes subsection (1) commits an offence.