41 Annual report on transport and storage licensing functions

41  Annual report on transport and storage licensing functions

(1)     The economic regulator must, as soon as practicable after the end of each financial year, make to the Secretary of State a report (the “annual T&S report” for that year) on—

(a)     the exercise of its functions under this Part during that year including a general survey of developments in respect of matters falling within the scope of those functions, and

(b)     the activities of the CMA during that year in respect of any references made by the economic regulator by virtue of section 36(1).

(2)     The annual T&S report for each year must include—

(a)     a report on the progress of the projects described in the transport and storage forward work programme for that year;

(b)     a summary of final and provisional orders made and penalties imposed by the economic regulator during

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