qualified replacement property
(A)The term “qualified replacement property” means any security issued by a domestic operating corporation which— (i)did not, for the taxable year preceding the taxable year in which such security was purchased, have passive investment income (as defined in section 1362(d)(3)(C)) in excess of 25 percent of the gross receipts of such corporation for such preceding taxable year, and (ii)is not the corporation which issued the qualified securities which such security is replacing or a member of the same controlled group of corporations (within the meaning of) as such corporation. (B)For purposes of this paragraph—