Oil Pipeline Uniform Accounting Regulations

57 (1) A company shall keep records of depreciable plant and plant retirements in sufficient detail to show the service life of plant that has been retired and to permit the service life of plant to be estimated by the use of the mortality method or other appropriate method.

(2) The records referred to in subsection (1) shall reflect, for each group of depreciable plant in respect of which a separate depreciation rate has been established, the percentage of the value of salvage from plant retired from that group.

(3) Where the amount is material, assets shall not be transferred from a group of plant accounts, plant account or group of assets within a plant account to another group of plant accounts, plant account or group of assets within a plant account without the approval of the Board.