Oil Pipeline Uniform Accounting Regulations

33 (1) Where a minor item of plant is acquired at a cost of less than $1,000, the cost shall be debited to expense.

(2) A company shall not

• (a) combine unrelated items of plant for the purpose of excluding the items from the provisions of subsection (1); or

• (b) divide expenditures made under a general plan for related items that cost $1,000 or more per item into smaller parcels for the purpose of debiting capital items to expense.

(3) With the approval of the Board after the filing of a request by a company, the company may, for the purpose of its accounting, adopt a limit of less than the amount set out in subsection (1) for any class of plant.

(4) No change may be made in the amount of a limit referred to in subsection (3) except with the prior approval of the Board.