Related Commentary  

337(1)  This section applies for the purpose of determining “the invested amount” in respect of any loan, securities or shares included in the investment.

This is subject to sections 363(2) and 369 (which adjust “the invested amount” in certain cases where value is received).

337(2)  In the case of a loan, the invested amount is–

(a)for the tax year in which the investment date falls, the average capital balance for the first year of the 5 year period,

(b)for the next tax year, the average capital balance for the second year of the 5 year period, and

(c)for any subsequent tax year–

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