164.1. For the purposes of subparagraph 1 of the first paragraph of section 49 and section 52.3, assets in operation and entered in the accounting records of the electric power carrier or distributor on or before 16 June 2000, those entered therein between that date and (insert here the date of coming into force of the first regulation under subparagraph 1 of the first paragraph of section 73), assets the construction of which is authorized or exempted from authorization by law or by the Government as provided by law on or before 16 June 2000 and assets the construction of which is authorized or exempted from authorization by the Government as provided by law between that date and (insert here the date of coming into force of the first regulation under subparagraph 1 of the first paragraph of section 73) are deemed to be prudently acquired and useful for the operation of an electric power transmission or distribution system.
Moreover, any expenditures arising from transmission service contracts or distribution service contracts entered into before 16 June 2000 are deemed to be necessary for the provision of the service.