Gas Pipeline Uniform Accounting Regulations

6 (1) A company’s accounting records shall provide sufficient particulars to show fully the facts pertaining to all entries made in the accounts.

(2) A company shall maintain the applicable accounts listed in Schedules I to VII and may, in addition, keep subsidiary accounts for its own purposes.

(3) The account numbers listed in Schedules I to VII shall be set out in the descriptive headings of the applicable ledger accounts, computer print-outs or other accounting records.

(4) All transactions applicable to a month shall be recorded in the accounts for that month and, at the end of that month, trial balances of the accounts shall be prepared.

(5) A company shall close its accounts at the end of each fiscal year.

(6) Final accounting entries for each month shall be made not later than 30 days after the last day of the month, except that the final entries for the last month of each fiscal year may be made within a period not exceeding 90 days from the end of that last month.

(7) The books, accounts and records referred to herein include not only accounting records in a limited technical sense, but all records such as minute books, capital stock records, reports, correspondence memoranda, computer printouts, tapes and card decks that may be useful in determining the history of or facts pertaining to any transaction.

(8) The books, accounts and records shall be readily accessible for examination by representatives of the Regulator.

(9) Where a gas pipeline is owned in undivided interest, the operator shall maintain all books, accounts and records of the total assets, liabilities, revenues and expenses of the pipeline in a manner that permits ready identification and access to the books, accounts and records of the beneficial owners of the pipeline.

(10) The accounts required to be maintained pursuant to subsection (2) shall be retained until the expiration of one year after leave to abandon the operation of the pipeline has been granted by the Commission.