(a) Persons who, under applicable federal laws or regulations, are lawfully entitled to use Schedule I, Schedule II, or both, controlled substances for the purpose of research, instruction, or analysis, may lawfully obtain and use those substances, as defined in this division, for those purposes upon approval for use of those controlled substances in bona fide research, instruction, or analysis by the Research Advisory Panel established pursuant to Section 11480.
(b) Such research, instruction, or analysis shall be carried on only under the auspices of the head of a research project that has been approved by the Research Advisory Panel pursuant to Section 11480.1. Complete records of receipts, stocks at hand, and use of these controlled substances shall be kept.