1. For the purposes of this Regulation, “single-use immovable of an industrial or institutional nature” means a unit of assessment which, on the date provided for in the first paragraph of section 46 of the Act respecting municipal taxation (chapter F-2.1), meets the following conditions:
(1) the value, entered on the roll in force, of the structures which are part of the immovable is $5,000,000 or more;
(2) it is not totally disused;
(3) it is not likely to be sold by agreement;
(4) the structures which are part of it are specifically designed and laid out for carrying on a predominant activity of an industrial or institutional nature; and
(5) the structures which are part of it may not be economically converted for the purposes of carrying on an activity of another type.
An industrial production activity is of an industrial nature.
The following activity is of an institutional nature: an activity for which is intended an immovable referred to in any of paragraphs 1, 1.1 and 13 to 17 of section 204 of the Act and which is neither of a residential, administrative or commercial nature nor a storage activity.