The information required to be provided in Part A for an IRP transaction or RAS includes providing the Transaction IDs of all related or directly connected IRPD transactions or RASs.
IRPD transactions will be directly connected where the transactions are connected on their face or collectively form part of a broader arrangement.
For example, the research and development services IRP transaction detailed at Table 7, the rights to use IP IRPD transaction detailed at Table 12 and the assignment of IP IRPD transaction detailed at Table 55 are directly connected IRPD transactions.
Other examples of directly connected IRP transactions or RASs include:
IRP transactions/RASs which facilitate a business restructure event, such as that described in Example 2 of the Local file – short form
An IRP transaction/RAS which hedges or offsets an exposure and the IRP transactions/RAS which created the exposure.
Note: Whether IRPD transactions are directly connected requires a consideration of whether the transactions form part of a broader arrangement. For example, all the IRPD transactions or steps under a Step Plan for a restructure will be directly connected to each other. However, the mere fact that IRPD transactions are entered into in close proximity or with the same counterparty does not necessarily in itself result in those transactions being directly connected transactions.