Gas Pipeline Uniform Accounting Regulations

62 (1) Cash, securities or other assets set aside for a specific purpose shall be debited to account 122 (Sinking Funds), account 123 (Miscellaneous Special Funds) or account 131 (Special Deposits), as applicable, and the appropriate asset account shall be credited.

(2) Income from assets held in account 122 (Sinking Funds) and account 123 (Miscellaneous Special Funds) shall be credited to account 316 (Income from Sinking and Other Funds).

(3) Where a mortgage or any contractual obligation entered into by a company requires that income from assets held in a fund be added to that fund, the company shall make the necessary transfer to the fund account.

(4) Where a transfer referred to in subsection (3) is to account 123 (Miscellaneous Special Funds), and represents a company’s contribution to account 291 (Welfare and Pension Appropriations) or to account 290 (Insurance Appropriations), the company shall concurrently debit account 329 (Other Income Deductions) and credit account 291 or 290, as applicable, with the amount transferred.

(5) A company’s contribution to account 291 (Welfare and Pension Appropriations) or to account 290 (Insurance Appropriations) shall be provided by debits to expenses.

(6) Where the gain or loss on the sale of assets recorded in account 122 (Sinking Funds) or account 123 (Miscellaneous Special Funds) is material, the company shall inform the Regulator and shall transfer the gain or loss to account 331 (Extraordinary Income) or account 341 (Extraordinary Income Deductions), as applicable.

(7) Where the gain or loss on the sale of assets referred to in subsection (6) is not material, the company shall transfer the gain or loss to account 316 (Income from Sinking and Other Funds) or account 329 (Other Income Deductions), as applicable.