Pipeline Financial Requirements Regulations

Marginal note:Readily accessible financial resources — 5%

• 4 (1) A company that operates one or more authorized pipelines referred to in paragraph 137(5)(a) of the Act or paragraphs 2(1)(a) to (d) must maintain at least 5% of the amount of financial resources referred to in subsection 138(1) of the Act in types that are readily accessible.

• Marginal note:Readily accessible financial resources — 2.5%

  (2) A company that operates one or more authorized pipelines referred to in paragraphs 2(1)(e) to (i) must maintain at least 2.5% of the amount of financial resources referred to in subsection 138(1) of the Act in types that are readily accessible.

• Marginal note:Financial resources

  (3) If the Commission specifies the types of financial resources that must be readily accessible to a company, it must choose from among the following types:

  • (a) a letter of credit;

  • (b) a line of credit;

  • (c) participation in a pooled fund referred to in subsection 139(1) of the Act;

  • (d) cash or cash equivalents.