sec.15Transferring assets

sec.15 Transferring assets

This section applies if, immediately before the transfer date for a transfer schedule, the transfer schedule identifies an asset of CS Energy. The asset is transferred to the recipient entity for the asset on the transfer date. CS Energy and the recipient entity must do all things necessary to enable the asset to be transferred to the recipient entity on the transfer date. For the purpose of accounting— CS Energy must treat— the transfer of the asset to the recipient entity as a distribution to an owner that is to be considered as a redemption of contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date; and the recipient entity must treat— the transfer of the asset to the recipient entity as a contribution by an owner that is to be considered as an increase in contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date. (sec.15-ssec.1) This section applies if, immediately before the transfer date for a transfer schedule, the transfer schedule identifies an asset of CS Energy. (sec.15-ssec.2) The asset is transferred to the recipient entity for the asset on the transfer date. (sec.15-ssec.3) CS Energy and the recipient entity must do all things necessary to enable the asset to be transferred to the recipient entity on the transfer date. (sec.15-ssec.4) For the purpose of accounting— CS Energy must treat— the transfer of the asset to the recipient entity as a distribution to an owner that is to be considered as a redemption of contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date; and the recipient entity must treat— the transfer of the asset to the recipient entity as a contribution by an owner that is to be considered as an increase in contributed equity; and the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date.

• (a) CS Energy must treat— (i) the transfer of the asset to the recipient entity as a distribution to an owner that is to be considered as a redemption of contributed equity; and (ii) the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date; and
• (i) the transfer of the asset to the recipient entity as a distribution to an owner that is to be considered as a redemption of contributed equity; and
• (ii) the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date; and
• (b) the recipient entity must treat— (i) the transfer of the asset to the recipient entity as a contribution by an owner that is to be considered as an increase in contributed equity; and (ii) the value of the asset as being the value of the asset as recorded in the accounts of CS Energy for the day immediately before the transfer date.