If an officer or temporary employee becomes bankrupt or makes a composition, arrangement or assignment for the benefit of the officer's or the temporary employee's creditors, the officer or temporary employee must:
(a) immediately give to the Secretary notice of the bankruptcy, composition, arrangement or assignment, and
(b) within such period as the Secretary specifies, provide the Secretary with such further information with respect to the cause of the bankruptcy or of the making of the composition, arrangement or assignment as the Secretary requires.