Oil Pipeline Uniform Accounting Regulations

43 (1) Where plant is no longer required for pipeline purposes but is retained by the company, its book cost shall be transferred to account 34 (Other Plant) and the accumulated depreciation or accumulated amortization, if any, with respect thereto shall be transferred from account 31 (Accumulated Depreciation — Transportation Plant) or account 32 (Accumulated Amortization — Transportation Plant) to account 35 (Accumulated Depreciation — Other Plant) or to account 40 (Accumulated Amortization — Other Plant), as applicable.

(2) Where depreciable other plant included in account 34 (Other Plant) is retired or sold, the book cost, salvage and removal costs shall be recorded in account 35 (Accumulated Depreciation — Other Plant).

(3) Where the gain or loss from the sale or retirement of depreciable other plant is material, the company shall inform the Board and shall transfer the amount of the gain or loss from account 35 (Accumulated Depreciation-Other Plant) or account 40 (Accumulated Amortization-Other Plant) to account 402 (Extraordinary Income) or to account 422 (Extraordinary Income Deductions), as applicable.

(4) Where the gain or loss from the sale or retirement of depreciable other plant included in account 34 (Other Plant) is not material, the company shall transfer the amount of the gain or loss from account 35 (Accumulated Depreciation — Other Plant) or account 40 (Accumulated Amortization — Other Plant) to account 410 (Other Income) or to account 420 (Other Income Deductions), as applicable.