446T(1) The amount of the notional loan initially outstanding is–
MV − DA
MV is the market value of the employment-related securities at the time of the acquisition, and
DA is the total of any deductible amounts.
446T(2) Where the employment-related securities are, or are an interest in, securities which are not fully paid up, the reference in subsection (1) to the market value of the employment-related securities is to what it would be if the securities were fully paid up.
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