Regulation 3

must contain the information specified in the Second Schedule in respect of the transaction, the applicable entity and the group of the applicable entity;

must specify the date on which the transfer pricing documentation is completed; and

must be in English or, if not in English, translated into English on the request of the Comptroller.

satisfy paragraph (1)(a), (b) and (c); or

contain a declaration by the applicable entity that it has prepared a qualifying past transfer pricing documentation, and include, by way of an attachment, a copy of the qualifying past transfer pricing documentation.

transfer pricing documentation that —

was prepared for a transaction undertaken by the applicable entity with the same related party in the basis period (called in this rule the previous basis period) that immediately precedes the basis period in which the subject transaction is undertaken; and

satisfies the conditions in paragraph (4); or

in a case where no transfer pricing documentation was prepared for a transaction mentioned in sub‑paragraph (a) in the previous basis period or such documentation was prepared but did not satisfy any condition in paragraph (4), transfer pricing documentation that —

was prepared for a transaction undertaken by the applicable entity with the same related party in the basis period immediately preceding the previous basis period; and

satisfies the conditions in paragraph (4).

it complies with paragraph (1)(a), (b) and (c);

the transaction for which the transfer pricing documentation was prepared is of the same type as the subject transaction;

the information it contains on all of the following matters accurately describes the same matters as regards the subject transaction:

the commercial or financial relations between the parties;

the conditions made or imposed between the parties;

the transfer pricing method that is used for the transaction;

the arm’s length conditions within the meaning of section 34D(1)(b) of the Act.