96Existence of the following factors, among others, indicates that an entity would be able to renew the contractual or other legal rights without significant cost:U.K.
(a)
there is evidence, possibly based on experience, that the contractual or other legal rights will be renewed. If renewal is contingent upon the consent of a third party, this includes evidence that the third party will give its consent;
(b)
there is evidence that any conditions necessary to obtain renewal will be satisfied; and
(c)
the cost to the entity of renewal is not significant when compared with the future economic benefits expected to flow to the entity from renewal.
If the cost of renewal is significant when compared with the future economic benefits expected to flow to the entity from renewal, the ‘renewal’ cost represents, in substance, the cost to acquire a new intangible asset at the renewal date.