Record-keeping requirements
6.—(1)  An approved company must, beginning on the approval date, keep records of the following:
(a)information sufficient to establish that any given income of the company is qualifying intellectual property income;
(b)all expenditure that is incurred in producing the qualifying intellectual property income of the company;
(c)details of each elected qualifying IPR that is used to derive the qualifying intellectual property income and, if the elected qualifying IPR is a family of qualifying IPRs, the basis for determining this;
(d)all expenditure included in the formula mentioned in paragraph 1 of Part 1 of the Schedule to determine the percentage of the qualifying intellectual property income derived from each elected qualifying IPR, including the following:
(i)details of the connected R and D and the basis for determining that the research and development is such connected R and D;
(ii)details of how each specified right is obtained and the basis for determining that any expenditure incurred is for the purpose of obtaining the specified right;
(e)where expenditure is incurred under a cost‑sharing agreement or other agreement mentioned in the Schedule for connected R and D or to obtain a specified right, whether the agreement is entered into at arm’s length and the basis for determining this;
(f)where the subject basis period is —
(i)a transitional basis period under Division 1 of Part 2 of the Schedule; or
(ii)a basis period or part of a basis period that is within the interim period under Division 2 of Part 2 of the Schedule,
that fact.
(2)  In this regulation, “connected R and D” and “specified right” have the meanings given to them by paragraph 7 of Part 1 of the Schedule as modified (where applicable) by Part 2 of the Schedule.