The council’s annual report for each financial year must—
(a) contain a list of all the business activities that the council conducted during the financial year; and
(b) identify the business activities that are significant business activities; and
(c) state whether or not the competitive neutrality principle was applied to the significant business activities, and if the principle was not applied, the reason why it was not applied; and
(d) state whether any of the significant business activities were not conducted in the preceding financial year, i.e. whether there are any new significant business activities.