Research exemption under Section 35(1)(ii): approval conditioned on separate research accounts and annual reporting by deadline. Approval under clause (ii) of sub-section (1) of section 35 is granted to the Indian Register of Shipping subject to conditions: maintain a separate account of sums received for scientific research in natural and applied sciences excluding agriculture, animal husbandry, fisheries and medicines; and furnish annual returns of scientific research activities to the prescribed authority in prescribed forms by 30th April each year. The approval is effective for three years from 1st April, 1976.