Income Tax Regulations — (a)
Property acquired before 1999 that would otherwise be included in another Class in this Schedule (a) that has not been included by the taxpayer in any other class; (b) that had not been used for any purpose whatever before it was acquired by the taxpayer; (c) that was acquired by the taxpayer after March 12, 1970 primarily for the purpose of preventing, reducing or eliminating air pollution by (i) removing particulate, toxic or injurious materials from smoke or gas, or (ii) preventing the discharge of part or all of the smoke, gas or other air pollutant, that is discharged or that, if the property had not been acquired and used, would be discharged into the atmosphere as a result of (iii) operations carried on by the taxpayer at a site in Canada at which operations have been carried on by him from a time that is before 1974, (iv) the operation in Canada of a building or plant by the taxpayer, the construction of which was either commenced before 1974 or commenced under an agreement in writing entered into by him before 1974, or (v) the operation of transportation or other movable equipment that has been operated by the taxpayer in Canada (including any of the inland, coastal or boundary waters of Canada) from a time that is before 1974, or that was acquired by him after May 8, 1972, that would otherwise have been property referred to in this paragraph except that (vi) it was acquired (A) for the purpose of gaining or producing income from a business by a taxpayer whose business includes the preventing, reducing or eliminating of air pollution that is caused or that otherwise would be caused primarily by operations referred to in subparagraph (iii), (iv) or (v) carried on by other taxpayers (not including persons referred to in section 149 of the Act), and (B) to be used in a business referred to in clause (A) in the preventing, reducing or eliminating of air pollution in a manner referred to in this paragraph, or (vii) it was acquired (A) for the purpose of gaining or producing income from a property by a corporation whose principal business is the purchasing of conditional sales contracts, accounts receivable, bills of sale, chattel mortgages, bills of exchange or other obligations representing part or all of the sale price of merchandise or services, the lending of money, or the leasing of property, or any combination thereof, and (B) to be leased to a taxpayer (other than a person referred to in section 149 of the Act) to be used by him, in an operation referred to in subparagraph (iii), (iv), (v) or (vi), in the preventing, reducing or eliminating of air pollution in a manner referred to in this paragraph; and (d) that has, upon application by the taxpayer to the Minister of the Environment, been accepted by that Minister as property the primary use of which is to be the preventing, reducing or eliminating of air pollution in a manner referred to in paragraph (c), and for the purposes of paragraphs (a) to (d), (e) where a corporation (in this paragraph referred to as the “predecessor corporation”) has, as a result of an amalgamation within the meaning assigned by subsection 87(1) of the Act, merged at any time after 1973 with one or more other corporations to form one corporate entity (in this paragraph referred to as the “new corporation”), the new corporation shall be deemed to be the same corporation as, and a continuation of, the predecessor corporation; (f) where a corporation (in this paragraph referred to as the “subsidiary”) has been wound up at any time after 1973 in circumstances to which subsection 88(1) of the Act applies, the parent (within the meaning assigned by that subsection) shall be deemed to be the same corporation as, and a continuation of, the subsidiary; and (g) this class shall be read without reference to paragraph (a) where paragraph (e) or (f) applies to the taxpayer and the property was acquired before 1992. [NOTE: Application provisions are not included in the consolidated text; see relevant a