Section 66.6 — Income Tax Act: Acquisition from tax-exempt

Where a corporation acquires, by purchase, amalgamation, merger, winding-up or otherwise, all or substantially all of the Canadian resource properties or foreign resource properties of a person whose taxable income is exempt from tax under this Part, subsection 29(25) of the Income Tax Application Rules and subsections 66.7(1) to 66.7(5) do not apply to the corporation in respect of the acquisition of the properties.