Oil Pipeline Uniform Accounting Regulations

74 (1) Where any long term debt is reacquired and included in account 24 (Company Long Term Debt Owned), and the amount of the difference between the amount paid upon reacquisition and the par value plus the applicable unamortized premium or minus the applicable unamortized discount and expense, as the case may be, is not material, the amount of the difference shall be debited to account 420 (Other Income Deductions) or credited to account 410 (Other Income), as applicable.

(2) Where the amount of the difference referred to in subsection (1) is material, the company shall inform the Board and shall debit the amount of the difference to account 422 (Extraordinary Income Deductions) or credit the amount to account 402 (Extraordinary Income), as applicable.