56Return in relation to exempt accounts

56 Return in relation to exempt accounts

(1) A financial institution shall, within 2 months, or such further time as the Commissioner allows, after the end of the year ending on 31 December 1983, and within 2 months, or such further time as the Commissioner allows, after the end of each subsequent year, furnish to the Commissioner a return relating to all exempt accounts kept with the financial institution during the year concerned. (2) A return required to be furnished by a financial institution under subsection (1) shall be: (a) if the Commissioner agrees to the return being in the form of a disc, tape or other device from which information required by the Commissioner to be contained in the return is capable of being reproduced—in that form; or (b) in any other case—in writing in accordance with a form approved by the Commissioner and containing such particulars as are required by that form.