Sec. 32.1438  Deferred maintenance and retirements.

    (a) This account shall include such items as the unprovided-for loss 
in service value of telecommunications plant for extraordinary 
nonrecurring retirement not considered in depreciation and the cost of 
extensive replacements of plant normally chargeable to the current 
period Plant Specific Operations Expense accounts.
    (b) Charges provided for in paragraph (a) of this section shall be 
included in this account only upon direction or approval from this 
Commission. However, the company's application to this Commission for 
such approval shall give full particulars concerning the property 
retired, the extensive replacements, the amount chargeable to operating 
expenses and the period over which in its judgment the amount of such 
charges should be distributed.