Sure. This is a provision that deals with eligible capital property. Usually, eligible capital properties don't generate capital gains. They generate something that's taxed similar to capital gains, but technically it's not a capital gain. Eligible capital property is included in an eligible capital property pool and is subject to depreciation deductions, unlike most capital properties.
For the most part, the eligible capital property pool is intended to include intangibles, things that you would buy for your business--for example, goodwill, some licences of indeterminate duration; they would go into your pool and they would be depreciated. In many cases, for example, with goodwill, if you were to buy goodwill, continue to carry on your business and then sell your goodwill, you wouldn't know whether you're selling some new goodwill that's been generated, selling the goodwill that you bought--it's sort of an amorphous asset--and the “eligible capital property” rules work well for that.
There are other cases where you might buy a licence of an indeterminate period--for example, a taxi licence. You know what it is. You know what you paid for it. When it comes time to sell it, you know what it is and you know what you'll get for it. As a result, if it were a capital property you would have been in a position to figure out quite clearly what your capital gain was. In those circumstances, this provision allows you to elect, basically to ignore the whole thing, take it out of your eligible capital property pool and treat it as a capital property that will generate a capital gain for you at the end.