(1) Each institution shall provide to the Minister an educational profile in an approved form describing activities of the institution and may from time to time provide to the Minister variations of that profile.
(2) An institution that has provided to the Minister an educational profile under this section may at any time provide to the Minister a new educational profile in an approved form in substitution for the previous educational profile or for the previous educational profile as varied, as the case may be.
(3) The approved form of an educational profile to be submitted by an institution under this section shall be determined by the Minister after consultation with the institution.