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Town Ordinance <br />Page 2 <br /> <br />Section 5. Exemptions. <br /> <br />Any tax imposed pursuant to Section 2 hereof shall not apply to: <br /> <br />a. Any instrument in writing given to secure a debt; <br /> <br />bo <br /> <br />The United States or any agency or instramentality thereof, any state or territory, or <br />political subdivision thereof, or the District of Columbia, with respect to any deed, <br />instrument, or writing to which it is a party, but the tax may be collected by <br />assessment from any other party liable therefor; <br /> <br />Co <br /> <br />The making, delivering or filing of conveyances to make effective any plan or <br />reorganization or adjustment: <br /> <br />(1) Confirmed under the Federal Bankruptcy Act, as amended; <br /> <br />(2) <br /> <br />Approved in an equity receivership proceeding in a court involving a railroad <br />corporation, as defined in subdivision (m) of Section 205 of Title 11 of the <br />United States Code, as amended; <br /> <br />(3) <br /> <br />Approved in an equity receivership proceeding in a court involving a <br />corporation, as defined in subdivision (3) of Section 506 of Title 11 of the <br />United States Code, as amended; or <br /> <br />(4) Whereby a mere change in identity, form or place or organization is effected. <br /> <br />Subdivisions 1 to 4, inclusive, of this section shall only apply if the making, delivery <br />or filing of instruments of transfer or conveyances occur within five years from the <br />date of such confirmation, approval or change; <br /> <br />do <br /> <br />The making or delivery of conveyances to make effective any order of the Securities <br />and Exchange Commission, as defined in subdivision (a) of Section 1083 of the <br />Internal Revenue Code of 1954; but only iff <br /> <br />(1) <br /> <br />The order of the Securities and Exchange Commission in obedience to which <br />such conveyance is made recites that such conveyance is necessary or <br />appropriate to effectuate the provisions of Section 79K of Title 15 of the <br />United States Code, relating to the Public Utility Holding Company Act of <br />1935; <br /> <br />(2) Such order specifies the property which is ordered to be conveyed; <br /> <br />(3) Such conveyance is made in obedience to such order. <br /> <br /> <br />