In the case of any acquisition of stock to which subsection (a) of this section applies, determinations as to whether the acquisition is, by reason of section
302
(b), to be treated as a distribution in part or full payment in exchange for the stock shall be made by reference to the stock of the issuing corporation. In applying section
318
(a) (relating to constructive ownership of stock) with respect to section
302
(b) for purposes of this paragraph, sections
318
(a)(2)(C) and
318
(a)(3)(C) shall be applied without regard to the 50 percent limitation contained therein.