Section 310.40  Transactions Under Contracts in Existence on July 10, 1933

Approval by the Commission of particular transactions under any contract or arrangement of the character described in subparagraph (3) of Section 8a of said Act shall not be required where such contract or arrangement was in existence on July 10, 1933; or where such contract or arrangement shall have been filed with and approved by the Commission subsequent to such date; but each utility shall keep accurate records relating to such transactions, which records shall be open to inspection by the Commission, provided that nothing herein contained shall be construed as an approval, for any purpose whatever, of any contracts existing on July 10, 1933.