Sec.  42.1   Scope of the regulations in this part.

   (a) The regulations in this part apply to all accounts, records, memoranda,
   documents,  papers, and correspondence prepared by or on behalf of the
   carrier as well as those which come into its possession in connection with
   the acquisition of property, such as by purchase, consolidation, merger,
   etc.

   (b) The regulations in this part shall not be construed as requiring the
   preparation of accounts, records, or memoranda not required to be prepared
   by other regulations, such as the Uniform System of Accounts, except as
   provided hereinafter.

   (c)  The  regulations  in this part shall not be construed as excusing
   compliance  with  any other lawful requirement for the preservation of
   records.