Page:United States Statutes at Large Volume 52.djvu/946

 52 STAT.] 75TH CONG. , 3D SESS.- CH. 575-JUNE 22, 1938 "ARTICLE XVI-AVHEN CHAPTER TAKES EFFECT "SEC. 276. a. This chapter shall apply to debtors by whom or against whom petitions are filed on and after the effective date of this amendatory Act and to the creditors and stockholders thereof, whether their rights, claims, or interests of any nature whatsoever have been acquired or created before or after such date; "b. a petition may be filed under this chapter in a proceeding in bankruptcy which is pending on such date, and a petition may be filed under this chapter notwithstanding the pendency on such date of a proceeding in which a receiver or trustee of all or any part of the property of a debtor has been appointed or for whose appoint- ment application has been made in a court of the United States or of any State; "c. the provisions of sections 77A and 77B of chapter VIII, as amended, of the Act entitled 'An Act to establish a uniform system of bankruptcy throughout the United States', approved July 1, 1898, shall continue in full force and effect with respect to proceed- ings pending under those sections upon the effective date of this amendatory Act, except that- "(1) if the petition in such proceedings was approved within three months prior to the effective date of this amendatory Act, the provisions of this chapter shall apply in their entirety to such proceedings; and "(2) if the petition in such proceedings was approved more than three months before the effective date of this amendatory Act, the provisions of this chapter shall apply to such proceed- ings to the extent that the judge shall deem their application practicable; and "(3) sections 268 and 270 of this Act shall apply to any plan confirmed under section 77B before the effective date of this amendatory Act and to any plan which may be confirmed under section 77B on and after such effective date, except that the exemption provided by section 268 of this Act may be disallowed if it shall be made to appear that any such plan had for one of its principal purposes the avoidance of income taxes, and except further that where such plan has not been confirmed on and after such effective date, section 269 of this Act shall apply where practicable and expedient. "CHAPTER XI-ARRANGEMENTS "ARTICLE I-CONS'IUCTION "SEC. 301. The provisions of this chapter shall apply exclusively to proceedings under this chapter. "SEC. 302. The provisions of chapters I to VII, inclusive, of this Act shall, insofar as they are not inconsistent with or in conflict with the provisions of this chapter, apply in proceedings under this chapter. For the purposes of such application, provisions relating to 'bank- rupts' shall be deemed to relate also to 'debtors', and 'bankruptcy proceedings' or 'proceedings in bankruptcy' shall be deemed to include proceedings under this chapter. For the purposes of such applica- tion the date of the filing of the petition in bankruptcy shall be taken to be the date of the filing of an original petition under section 322 of this Act, and the date of adjudication shall be taken to be the date of the filing of the petition under section 321 or 322 of this Act except where an adjudication had previously been entered. 905 When chapter takes effect. Operation of desig- nated sections in pend- ing proceedings. 48 Stat. 912. 11 U.S. C. §§C.206, 207; Supp. III, § 207. Exceptions. ('liapter XI-Ar- rangoementa. Construction. Application of pro- visions. Post, p . 907.

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