(a) An operator may propose to reduce the frequency of periodic inspections and tests required in this Part on the basis of the engineering analysis and risk assessment required by sections 255.1003 through 255.1015 of this Part.

(b) An operator must submit its proposal to the Public Service Commission as prescribed in section 255.13(c) of this Part. The Public Service Commission may accept the proposal on its own authority, with or without conditions and limitations, on a showing that the operator's proposal, which includes the adjusted interval, will provide an equal or greater overall level of safety.

(c) An operator may implement an approved reduction in the frequency of a periodic inspection or test only where the operator has developed and implemented an integrity management program that provides an equal or improved overall level of safety despite the reduced frequency of periodic inspections.