(2) The definition ``cumulative Canadian exploration expense'' in subsection 66.1(6) of the Act is amended by adding the following after the description of J:
	J.1 is the total of all amounts by which the cumulative Canadian exploration expense of the taxpayer is required because of subsection 80(8) to be reduced at or before that time,
	(3) Subsections (1) and (2) apply to taxation years that end after February 21, 1994.
	23. (1) The formula in the definition ``cumulative Canadian development expense'' in subsection 66.2(5) of the Act is replaced by the following:
	(A + B + C + D + D.1) - (E + F + G + H + I + J + K + L + M + M.1 + N + O)
	(2) Subparagraph (b)(i) of the description of F in the definition ``cumulative Canadian development expense'' in subsection 66.2(5) of the Act is amended by striking out the word ``and'' at the end of clause (B), by adding the word ``and'' at the end of clause (C) and by adding the following after clause (C):
	(D) no reduction under subsection 80(8) at or after the relevant time were taken into account
	(3) Subparagraph (b)(ii) of the description of F in the definition ``cumulative Canadian development expense'' in subsection 66.2(5) of the Act is amended by striking out the word ``and'' at the end of clause (C) and by adding the following after clause (D):
	(E) no reduction under subsection 80(8) at or after the relevant time were taken into account, and
	(4) The definition ``cumulative Canadian development expense'' in subsection 66.2(5) of the Act is amended by adding the following after the description of M:
	M.1 is the total of all amounts by which the cumulative Canadian development expense of the taxpayer is required because of subsection 80(8) to be reduced at or before that time,
	(5) Subsections (1) to (4) apply to taxation years that end after February 21, 1994.
	24. (1) The formula in the definition ``cumulative Canadian oil and gas property expense'' in subsection 66.4(5) of the Act is replaced by the following:
	(A + B + C + D + D.1) - (E + F + G + H + I + I.1 + J)
	(2) Subparagraph (b)(i) of the description of F in the definition ``cumulative Canadian oil and gas property expense'' in subsection 66.4(5) of the Act is amended by striking out the word ``and'' at the end of clause (B), by adding the word ``and'' at the end of clause (C) and by adding the following after clause (C):
	(D) no reduction under subsection 80(8) at or after the relevant time were taken into account
	(3) Subparagraph (b)(ii) of the description of F in the definition ``cumulative Canadian oil and gas property expense'' in subsection 66.4(5) of the Act is amended by striking out the word ``and'' at the end of clause (B) and by adding the following after clause (C):
	(D) no reduction under subsection 80(8) at or after the relevant time were taken into account, and
	(4) Subparagraph (c)(i) of the description of F in the definition ``cumulative Canadian oil and gas property expense'' in subsection 66.4(5) of the Act is amended by striking out the word ``and'' at the end of clause (B), by adding the word ``and'' at the end of clause (C) and by adding the following after clause (C):
	(D) no reduction under subsection 80(8) at or after the relevant time were taken into account
	(5) Subparagraph (c)(ii) of the description of F in the definition ``cumulative Canadian oil and gas property expense'' in subsection 66.4(5) of the Act is amended by striking out the word ``and'' at the end of clause (C) and by adding the following after clause (D):
	(E) no reduction under subsection 80(8) at or after the relevant time were taken into account, and
	(6) The definition ``cumulative Canadian oil and gas property expense'' in subsection 66.4(5) of the Act is amended by striking out the word ``and'' at the end of the description of I and by adding the following after the description of I:
	I.1 is the total of all amounts by which the cumulative Canadian oil and gas property expense of the taxpayer is required because of subsection 80(8) to be reduced at or before that time, and
	(7) Subsections (1) to (6) apply to taxation years that end after February 21, 1994.
	25. (1) The portion of paragraph 66.7(1)(b) of the Act after subparagraph (i) is replaced by the following:
	exceeds the total of
	(ii) all other amounts deducted under subsection 29(25) of the Income Tax Application Rules, this subsection and subsections (3), (4) and (5) for the year that can reasonably be regarded as attributable to the part of its income for the year described in subparagraph (i) in respect of the particular property, and
	(iii) all amounts added because of subsection 80(13) or (17) in computing the amount determined under subparagraph (i).
	(2) Paragraph 66.7(2)(a) of the Act is replaced by the following:
	(a) the amount, if any, by which
	(i) the foreign exploration and development expenses incurred by the original owner before the original owner disposed of the particular property to the extent that those expenses were not otherwise deducted in computing the successor's income for the year, were not deducted in computing the successor's income for a preceding taxation year and were not deductible by the original owner, or deducted by any predecessor owner of the particular property, in computing income for any taxation year
	exceeds
	(ii) the total of all amounts each of which is an amount by which the amount described in this paragraph is required because of subsection 80(8) to be reduced at or before the end of the year, and
	(3) The portion of paragraph 66.7(2)(b) of the Act after subparagraph (ii) is replaced by the following:
	exceeds the total of
	(iii) all other amounts deducted under this subsection for the year that can reasonably be regarded as attributable to
	(A) the part of its income for the year described in subparagraph (i) in respect of the particular property, or
	(B) a part of its income for the year described in clause (ii)(A) in respect of which an amount is designated by the successor under clause (ii)(A), and
	(iv) all amounts added because of subsection 80(13) or (17) in computing the amount determined under subparagraph (i),
	(4) Paragraph 66.7(3)(a) of the Act is replaced by the following:
	(a) the amount, if any, by which
	(i) the total of
	(A) the cumulative Canadian exploration expense of the original owner determined immediately after the disposition of the particular property by the original owner, and
	(B) all amounts required to be added under paragraph (9)(f) to the cumulative Canadian exploration expense of the original owner in respect of a predecessor owner of the particular property, or the successor, as the case may be, at any time after the disposition of the particular property by the original owner and before the end of the year,
	to the extent that an amount in respect of that total was not
	(C) deducted or required to be deducted under subsection 66.1(2) or (3) by the original owner or deducted by any predecessor owner of the particular property in computing income for any taxation year,
	(D) otherwise deducted in computing the successor's income for the year,
	(E) deducted in computing the successor's income for a preceding taxation year, or
	(F) designated by the original owner pursuant to subsection 66(14.1) for any taxation year,
	exceeds
	(ii) the total of all amounts each of which is an amount by which the amount described in this paragraph is required because of subsection 80(8) to be reduced at or before the end of the year, and
	(5) The portion of paragraph 66.7(3)(b) of the Act after subparagraph (i) is replaced by the following:
	exceeds the total of
	(ii) all other amounts deducted under subsection 29(25) of the Income Tax Application Rules, this subsection and subsections (1), (4) and (5) for the year that can reasonably be regarded as attributable to the part of its income for the year described in subparagraph (i) in respect of the particular property, and
	(iii) all amounts added because of subsection 80(13) or (17) in computing the amount determined under subparagraph (i).
	(6) Paragraph 66.7(4)(a) of the Act is amended by striking out the word ``and'' at the end of subparagraph (ii) and by adding the following after subparagraph (iii):
	(iv) all amounts each of which is an amount by which the amount described in this paragraph is required because of subsection 80(8) to be reduced at or before the end of the year, and
	(7) The portion of paragraph 66.7(4)(b) of the Act after subparagraph (i) is replaced by the following:
	exceeds the total of
	(ii) all other amounts deducted under subsection 29(25) of the Income Tax Application Rules, this subsection and subsections (1), (3) and (5) for the year that can reasonably be regarded as attributable to the part of its income for the year described in subparagraph (i) in respect of the particular property, and
	(iii) all amounts added because of subsection 80(13) or (17) in computing the amount determined under subparagraph (i).
	(8) The portion of paragraph 66.7(5)(a) of the Act after subparagraph (i) and before subparagraph (ii) is replaced by the following:
	exceeds the total of
	(9) Paragraph 66.7(5)(a) of the Act is amended by adding the following after subparagraph (ii):
	(iii) the total of all amounts each of which is an amount by which the amount described in this paragraph is required because of subsection 80(8) to be reduced at or before the end of the year, and
	(10) The portion of paragraph 66.7(5)(b) of the Act after subparagraph (i) is replaced by the following:
	exceeds the total of
	(ii) all other amounts deducted under subsection 29(25) of the Income Tax Application Rules, this subsection and subsections (1), (3) and (4) for the year that can reasonably be regarded as attributable to the part of its income for the year described in subparagraph (i) in respect of the particular property, and
	(iii) all amounts added because of subsection 80(13) or (17) in computing the amount determined under subparagraph (i).
	(11) Paragraph 66.7(9)(f) of the Act is replaced by the following:
	(f) the amount required by paragraph (e) to be deducted shall be added at the particular time to the cumulative Canadian exploration expense of the original owner in respect of the corporation for the purpose of paragraph (3)(a).
	(12) Subsections (1) to (11) apply to taxation years that end after February 21, 1994.
	26. (1) Section 79 of the Act is replaced by the following:
Definitions	79. (1) In this section,