As soon as possible after the end of each accounting year1, the Civil Aviation Authority ('CAA') must make to the Secretary of State2 a report on the performance of its functions during that year3. The report must:
(1) set out any direction4 given by the Secretary of State during that year unless he has notified the CAA that in his opinion it would be against the national interest to set it out in the report5;
(2) incorporate any statement of policy
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