The same rules apply to the replacement of property that was involuntarily disposed of and replaced with similar property by the later of: the end of the second taxation year following the taxation year in which the property was disposed of, and 24 months after the end of the year the property was disposed of. Involuntary dispositions are those where:

• Property is unlawfully taken;

• Property is destroyed, including where an amount is payable under an insurance policy for loss or destruction; and

• Property taken under statutory authority or where property is sold after notice of an intention to take it under statutory authority was given.