Oil Pipeline Uniform Accounting Regulations

67 (1) A company shall be governed by recognized accounting principles in reducing the value at which securities are recorded in account 20 (Investment in Affiliated Companies) or account 21 (Other Investments) to reflect anticipated loss in value.

(2) Permanent impairment of the value of securities referred to in subsection (1) shall be recorded in the accounts but fluctuations in market value shall not be recorded.

(3) Where a reduction in the value of securities referred to in subsection (1) is material, the company shall inform the Board and shall debit the amount of the reduction to account 422 (Extraordinary Income Deductions).

(4) Where a reduction in the value of securities referred to in subsection (1) is not material, the company shall debit the amount of the reduction to account 415 (Provision for Loss in Valuation of Investments).