Income Tax Act — I-3.3 59
 well in respect of which an amount was included in computing the taxpayer’s frontier exploration base or in computing the frontier exploration base of a predecessor where the taxpayer is a successor corporation to the predecessor; and (f) 33 1/3% of the total of all amounts, each of which is the stated percentage of an amount that became receivable by the taxpayer after April 19, 1983 and in the year and in respect of which the consideration given by the taxpayer was a property (other than a share, depreciable property of a prescribed class or a Canadian resource property) or services the cost of which may reasonably be regarded as having been an expenditure that was included in computing the mining exploration depletion base of the taxpayer or in computing the mining exploration depletion base of a specified predecessor of the taxpayer. Definitions (3.4) For the purposes of this subsection and subsection 59(3.3), specified predecessor of a taxpayer means a person who is a predecessor of (a) the taxpayer, or (b) a person who is a specified predecessor of the taxpayer; ( prédécesseur déterminé ) stated percentage means (a) in respect of an amount described in paragraph 59(3.3)(a) or 59(3.3)(f) that became receivable by a taxpayer, (i) 100% where the amount became receivable before July, 1988, (ii) 50% where the amount became receivable after June, 1988 and before 1990, and (iii) 0% where the amount became receivable after 1989, and (b) in respect of the disposition described in paragraph 59(3.3)(b) of a depreciable property of a taxpayer, (i) 100% where the property was disposed of before July, 1988, (ii) 50% where the property was disposed of after June, 1988 and before 1990, and (iii) 0% where the property was disposed of after 1989; ( pourcentage indiqué ) successor corporation means a corporation that has at any time after November 7, 1969 acquired, by purchase, amalgamation, merger, winding-up or otherwise (other than pursuant to an amalgamation that is described in subsection 87(1.2) or a winding-up to which the rules in subsection 88(1) apply), from another person (in this subsection and subsection 59(3.3) referred to as the “predecessor”) all or substantially all of the Canadian resource properties of the predecessor in circumstances in which any of subsection 29(25) of the Income Tax Application Rules and subsections 66.7(1) and 66.7(3) to 66.7(5) apply to the corporation. ( société remplaçante ) Variation of stated percentage (3.5) Notwithstanding the definition stated percentage in subsection 59(3.4), where (a) an amount became receivable by a taxpayer within 60 days after the end of 1989 in respect of a disposition of property or services, and (b) the person to whom the disposition was made is a corporation that, before the end of 1989, had issued, or had undertaken to issue, a flow-through share and the corporation renounces under subsection 66(12.66), effective on December 31, 1989, an amount in respect of Canadian exploration expenses that includes an expenditure in respect of the amount referred to in paragraph 59(3.5)(a), the stated percentage in respect of the amount described in paragraph 59(3.5)(a) shall be 50%. Definition of proceeds of disposition (5) In this section, proceeds of disposition has the meaning assigned by section 54. Definitions in regulations under s. 65 (6) In this section, bituminous sands equipment , Canadian oil and gas exploration expense , earned depletion base , enhanced recovery equipment , frontier exploration base , mining exploration depletion base , non-conventional lands , qualified tertiary oil recovery project and supplementary depletion base have the meanings assigned by regulations made for the purposes of section 65. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 59; 2001, c. 17, s. 40