Ill. Admin. Code tit. 83 § 505.1051

Current through Register Vol. 48, No. 45, November 8, 2024

Section 505.1051 - Account 105.1

In Account 105.1, "Production properties held for future use," the changes set forth in the remainder of this Section are made.

a) The last sentence of Paragraph D is deleted, and in the first sentence of Paragraph D, the phrase "411.6 or 411.7, as appropriate, except when determined to be significant by the Commission" is deleted and replaced by the following phrase: "421.1 or 421.2, as appropriate, except as otherwise authorized or determined by the Commission."

b) The following is added as Paragraph F: "F. Gains or losses from abandonment shall be recorded in Account 434 or 435 as may be appropriate unless otherwise directed by the Commission."

c) Paragraph C is deleted in its entirety.

Ill. Admin. Code tit. 83, § 505.1051

Amended at 9 Ill. Reg. 4022, effective April 1, 1985