(1) The owner, manager, or chief executive officer of a micro or small scale business enterprise, that has been so declared for the purposes of this Act, shall maintain proper books of accounts and other relevant records and shall submit to the Registrar annual reports in such form as the Registrar approves.
(2) The Registrar shall submit an annual consolidated report covering activities and developments within the micro and small scale business sector together with the comments of the Committee, on the Registrar's Report, to the Minister.
(3) The Minister shall submit the report submitted to him or her under subsection (2) to Parliament within 3 months of the date of receipt from the Registrar.