GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
book cost means, in respect of plant, the amount that is recorded in a plant account without any deduction for accumulated depreciation or amortization or for any other purpose; ( valeur comptable )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
Commission means the Commission referred to in subsection 26(1) of the Canadian Energy Regulator Act ; ( Commission )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
contingent assets means assets without known value to the company until fulfilment of conditions regarded as uncertain; ( actif éventuel )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
contingent liabilities means liabilities that may, under certain conditions, become obligations of the company but are not direct or assumed obligations on the date of the balance sheet; ( passif éventuel )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
fiscal year means, in relation to the accounts of a company, the calendar year or the fiscal year approved by the Commission for the accounts of the company; ( exercice financier )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
gas plant in service means plant used for any aspect of pipeline operations or plant held for use under a definite plan for future gas pipeline operations; ( installation de gazoduc en service )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
minor item of plant means an associated part or item included within a plant unit; ( article d’installation accessoire )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
net salvage value means salvage value minus any removal costs; ( valeur nette de récupération )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
operator means a company authorized by the Commission to operate a gas pipeline; ( exploitant )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
other plant means any installation or property that is entirely distinct from and is not operated in connection with the gas pipeline service of the company; ( autre installation )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
plant means in respect of a gas pipeline company, any installation or property the cost of which is to be recorded in the Plant Accounts listed in Schedule IV; ( installation )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
plant retired means a unit of plant, whether it is replaced or not, that is sold, abandoned, demolished, dismantled or otherwise removed from gas pipeline service; ( installation réformée )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
plant unit means a complete structure, apparatus or item of equipment that constitutes a component of any installation or property that could properly be included in the plant accounts listed in Schedule IV and includes a part of any structure or apparatus where such part is a physically distinct part of such structure or apparatus and the value of such part is material; ( unité d’installation )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
salvage value means the amount received for plant retired, including insurance proceeds, and includes any amount received for material salvage from plant retired where the material is sold; ( valeur de récupération )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
undivided interest means a beneficial ownership in common of the assets, liabilities, revenues and expenses of a gas pipeline by two or more companies or persons. ( copropriété indivise )
Gas Pipeline Uniform Accounting Regulations — 3
3 A company may submit any question of doubtful interpretation of these Regulations to the Regulator for consideration and guidance. SOR/83-249, s. 1; SOR/83-884, s. 1 SOR/2020-50, s. 12 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 4
4 These Regulations apply only to a company authorized by the Commission to construct or operate a gas pipeline. SOR/2020-50, s. 11 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 5
5 (1) Every Group 1 company shall (a) keep separate books of account in Canada in a manner consistent with generally accepted accounting principles; (b) unless otherwise authorized or instructed by the Commission, keep accounts in the manner set out in these Regulations; and (c) keep a system of accounts as prescribed in these Regulations. (2) Every Group 2 company (a) shall keep separate books of account in Canada in a manner consistent with generally accepted accounting principles until the expiration of one year after such time as the Commission grants leave to abandon the operation of the pipeline; (b) shall file a set of audited financial statements with the Regulator within one hundred and twenty (120) days after the end of each fiscal year of the company; (c) shall comply with subsections 6(1), (7), (8) and (9); and (d) is exempt from complying with these Regulations except as prescribed in paragraphs (a) to (c). (3) In this section, Group 1 company means a company listed in Schedule VIII; and ( compagnies du groupe 1 ) Group 2 company means any company, other than a Group 1 company, that constructs or operates a gas pipeline. ( compagnies du groupe 2 ) SOR/86-998, s. 2 SOR/2020-50, s. 11 SOR/2020-50, s. 12 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
Group 1 company means a company listed in Schedule VIII; and ( compagnies du groupe 1 )
Gas Pipeline Uniform Accounting Regulations — Gas Pipeline Uniform Accounting Regulations
Group 2 company means any company, other than a Group 1 company, that constructs or operates a gas pipeline. ( compagnies du groupe 2 )
Gas Pipeline Uniform Accounting Regulations — 6
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. SOR/83-884, s. 2; SOR/86-998, s. 3 SOR/2020-50, s. 11 SOR/2020-50, s. 12 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 7
7 (1) Balance sheet accounts, set out in Schedule I as account series 100 to 293, shall, in respect of a company, disclose the company’s financial position at the balance sheet date. (2) The balance sheet accounts referred to in subsection (1) shall record assets, liabilities, share capital, and retained earnings, as the case may be. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 8
8 (1) Income accounts, set out in Schedule II as account series 300 to 341, shall show a summary of a company’s revenue, expenses and extraordinary items. (2) A company shall inform the Regulator of all extraordinary items and shall record them in account 331 (Extraordinary Income) or account 341 (Extraordinary Income Deductions), as applicable. (3) A company’s net balance of income or loss shall be transferred to retained earnings at the end of each fiscal year. (4) In this section, extraordinary item means material gain or loss that is not typical of a company’s normal business activities, is not expected to occur regularly over a period of years and would not be considered a recurring factor in any evaluation of the ordinary operating process of the company. SOR/86-998, s. 4 SOR/2020-50, s. 12 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 9
9 Retained earnings accounts, set out in Schedule III as account series 350 to 357, shall show a summary of all changes in balance sheet account 212 (Retained Earnings) for each year and shall include (a) the balance transferred from income for the year; (b) prior period adjustments; (c) miscellaneous retained earnings adjustments; (d) dividend appropriations; and (e) income tax applicable to retained earnings adjustments. SOR/86-998, s. 5(F)
Gas Pipeline Uniform Accounting Regulations — 10
10 (1) Plant accounts, set out in Schedule IV as account series 401 to 498, are subsidiary to balance sheet accounts 100 (Gas Plant in Service), 101 (Gas Plant Leased to Others), 102 (Gas Plant Held for Future Use) and 107 (Improvement to Facilities Leased from Others), and shall be used to classify a company’s plant. (2) Plant accounts shall be supported by subsidiary accounts that record the costs, by location, of (a) each major facility including each main gathering system, products extraction plant, gas storage facility, compressor station and main pipeline; and (b) any other facility that is separately located. (3) Plant accounts shall be maintained to record separately expenditures for each plant addition, replacement and retirement authorized by the Commission. (4) Any installation or property not used in pipeline operations shall be recorded in balance sheet account 110 (Other Plant). SOR/2020-50, s. 11 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 11
11 Operating revenue accounts, set out in Schedule V as account series 500 to 579, shall be used to classify all revenue of a company from pipeline operations. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 12
12 (1) Operating expense accounts, set out in Schedule VI as account series 610 to 729, shall include records of a company’s operating expenses pertaining to pipeline operations. (2) Maintenance expense accounts, set out in Schedule VII as accounts series 810 to 889, shall include records of a company’s maintenance expenses pertaining to pipeline operations. (3) The operating and maintenance expenses referred to in subsections (1) and (2) shall be recorded in the appropriate account under the applicable service function referred to in Schedule VI and VII. (4) The service functions referred to in subsection (3) are (a) gathering; (b) products extraction; (c) gas supply (operating only); (d) underground storage; (e) transmission; (f) general; and (g) administrative and general (operating only). (5) Expenses common to more than one operating or maintenance expense account shall, where practicable, be equitably apportioned between such accounts and adequate records showing the basis of such apportionment shall be maintained. (6) The operating and maintenance expense accounts under the service functions listed in paragraphs (4)(a) to (f) shall be supported by subsidiary accounts that record the expenses, by location as practicable for each major facility such as each main gathering system, products extraction plant, gas storage facility, compressor station, main pipeline system and any other facility that is separately located. SOR/86-998, s. 6(E) SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 13
13 (1) Where it is not possible to record expenditures directly to a particular expense or plant account, a company may maintain clearing accounts for recording the expenditures. (2) Amounts recorded in clearing accounts shall be regularly distributed to the appropriate expense or plant accounts on an equitable basis. (3) Any balances in the clearing accounts shall be substantially distributed before the end of each fiscal year unless items held therein relate to a future period. (4) The net monthly balance in clearing accounts shall be included in account 179 (Other Deferred Debits) or account 279 (Other Deferred Credits), as applicable. (5) Where an operator maintains clearing accounts for the purpose of distributing monthly balances to the beneficial owners of a pipeline, the accounts shall contain sufficient particulars to permit ready identification and reconciliation with the accounts of the beneficial owners. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 14
14 (1) An item that appears in a representative list in any account in the schedules shall be included in the corresponding account of a company if the inclusion of the item is consistent with the text of the account. (2) A representative list shall be considered only as representative and not as excluding from an account any analogous component or item that is omitted from the list. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 15
15 (1) A company shall record in the plant accounts the costs incurred to acquire or construct any plant. (2) Where the consideration given for plant referred to in subsection (1) is other than money, the money value of the consideration on the day the contract for the acquisition or construction comes into force shall be debited to the applicable accounts and a record of the consideration, in sufficient detail to identify it, shall be retained by the company. (3) Where a company purchases all or part of the existing facilities of another company, the purchasing company shall prepare and submit to the Commission for approval details of the proposed method of accounting for such purchase together with the company’s reasons for the proposed method of accounting. (4) Where the facilities referred to in subsection (3) are purchased from an affiliated company, the original cost of the facilities to the affiliated company and the accumulated depreciation applicable to the facilities to the date of purchase, as shown in the accounts of the affiliated company, shall be recorded in the accounts of the purchasing company. (5) Balance sheet account 115 (Gas Plant Under Construction) shall be supported by subsidiary records that record separately each transaction for each project involving plant additions, replacements or relocations. (6) Where a plant acquired by a company is constructed by or for that company, the costs to be recorded in the plant accounts shall include the elements of cost set out in sections 16 to 27 and section 29. SOR/2020-50, s. 11 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 16
16 (1) Cost of labour for construction of plant shall include the amount paid for labour, including employee benefits, performed by the company’s employees. (2) Where the employees referred to in subsection (1) are specially assigned to construction work, their pay while so engaged shall be included in the cost of the work. (3) No charge shall be made to plant accounts for the pay of the company’s employees whose services in connection with construction are merely incidental, except as provided in section 26. (4) The allocation of travelling and other incidental expenses of the company’s employees shall be made to accounts on the same basis as the distribution of the pay of those employees. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 17
17 (1) Cost of materials and supplies shall include the purchase price of materials and supplies at the point of free delivery, the cost of ad valorem taxes, inspection, transportation and, where appropriate, a suitable proportion of store expenses. (2) In determining the cost of materials and supplies, suitable allowance shall be made for all discounts allowed and realized on the purchase thereof. (3) In debiting the plant accounts with materials and supplies used, allowance shall be made for the value of (a) unused portions and other salvage; (b) the materials recovered from temporary pipe, scaffolding and other temporary structures used in construction; and (c) small tools recovered and usable for other purposes.
Gas Pipeline Uniform Accounting Regulations — 18
18 (1) Cost of special machine and heavy work equipment service shall include the cost of labour, material, depreciation, supplies and other costs incurred in maintaining and operating power shovels, scrapers, pile drivers, dredgers, ditchers, material loaders and similar equipment, and any amount paid to others for rent, operation and maintenance of such equipment. (2) Where a construction project necessitates the purchase of equipment to be used exclusively on the project until the project is completed, the cost of the equipment shall be debited to the accounts representing the cost of the project and while the cost remains so debited no debit shall be made to expenses for depreciation on the equipment. (3) The amount realized from any subsequent sale of equipment referred to in subsection (2), or the appraised value of any equipment retained after the completion of the project for which it was purchased, shall be credited to the accounts debited with the equipment’s cost. (4) The appraised value of equipment retained after the completion of the project for which it was purchased shall be debited to the appropriate plant account and, thereafter, for the purposes of accounting, that appraised value shall be considered as the cost of the equipment.
Gas Pipeline Uniform Accounting Regulations — 19
19 (1) Cost of transportation incurred in the construction of plant shall include the cost of transporting men, equipment and material and supplies used for construction purposes. (2) The cost of transportation of construction material to the point where material is received by the company shall be included, if practicable, in the cost of the material. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 20
20 Cost of contract work shall include any amount paid for work performed under contract by other companies and individuals. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 21
21 (1) Cost of insurance, injuries and damages shall include (a) the premiums paid for insuring plant during construction; (b) the costs incurred for protection against fire and wilful destruction of plant during construction; and (c) the costs incurred in respect of injuries to persons, damage to property of others and damage to plant incidental to construction. (2) Insurance recovered or recoverable for compensation for injuries to persons injured during the construction of plant shall be credited to the account or accounts debited with the cost of the injuries. (3) Insurance recovered or recoverable in respect of property damage incidental to the construction of plant shall be credited to the account or accounts debited with the cost of the damage. (4) Subject to subsection (5), any injury or damage incidental to the removal of a structure or part thereof shall be debited to the account recording the retirement costs of the structure. (5) Any injury or damage incidental to the removal of a structure or part thereof that is an encumbrance on newly acquired land by a company shall be included in the cost of that land. SOR/86-998, s. 7(E) SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 22
22 Cost of privileges shall include compensation paid for the temporary use of public and private property in connection with a construction project.
Gas Pipeline Uniform Accounting Regulations — 23
23 Cost of engineering services shall include any amount paid to other companies, firms or individuals engaged by the company to plan, design, prepare estimates, supervise, inspect or give general advice and assistance in connection with a construction project. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 24
24 Earnings and expenses during the construction of plant shall include all revenues derived during the construction period from property that is included in the cost of plant under construction and all expenses that are attributable to the revenues received.
Gas Pipeline Uniform Accounting Regulations — 25
25 Cost of rents shall include any amount paid for the use of construction quarters and office space occupied by construction forces.
Gas Pipeline Uniform Accounting Regulations — 26
26 (1) Cost of overhead during construction shall include engineering, supervision and administrative salaries and expenses, employee benefits, legal fees, taxes, shop service and other analogous items, to the extent that they may be reasonably considered to be plant costs. (2) Only actual and reasonable overhead costs shall be assigned to particular jobs or units. (3) The records supporting the entries for cost of overhead during construction shall show the total amount of each type of overhead expenditure capitalized in the year and the basis of distribution thereof in accordance with the instructions set out in account 498 (Overhead Charged to Construction).
Gas Pipeline Uniform Accounting Regulations — 27
27 (1) A company may, at its option, capitalize an allowance for funds used during construction. (2) The allowance for funds used during construction shall be calculated in accordance with the instructions set out in account 497 (Allowance for Funds Used During Construction), and may, at the option of the company, be prorated over the appropriate depreciable plant accounts. SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 28
28 (1) On the date that plant is placed in service, the company shall cease to capitalize an allowance for funds used during construction on the plant and shall compute and charge to the appropriate account an amount representing depreciation as determined under sections 49 to 57. (2) The date that the plant is in service, for the purpose of subsection (1), shall not be later than the first day of the month following issuance of a Leave to Open Order by the Commission. SOR/86-998, s. 8 SOR/2020-50, s. 11 SOR/2020-50, s. 13(F)
Gas Pipeline Uniform Accounting Regulations — 29
29 (1) Elements of cost analogous to those defined in sections 16 to 27 may be included in the cost of plant. (2) The costs incurred in disposing of material excavated may be included as an element referred to in subsection (1).