274. A corporation is deemed to retain a significant part of its business activity after an alienation if the business activity retained
(1) required the use of at least 25% of the value of the corporation’s assets as at the date of the end of the most recently completed fiscal year; and
(2) generated at least 25% of either the corporation’s revenues or its income before taxes during the most recently completed fiscal year.
In the case of the alienation of property of a subsidiary, the assets, revenues and income referred to in the first paragraph are computed on the basis of the consolidated financial information of the subsidiary and of the parent corporation.