Page:United States Statutes at Large Volume 68A.djvu/564

 524

INTERNAL REVENUE CODE OF 1954

that the issuance, transfer, or exchange of securities, or the making, delivery or fihng of instruments of transfer or conveyances, occurs within 5 years from the date of such confirmation or approval— (A) confirmed under the Bankruptcy Act, as amended (30 Stat. 544; U.S.C., title 11), (B) approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in section 77(m) of the Bankruptcy Act, as amended (49 Stat. 922; 11 U.S.C. 205 (m)), or (C) approved in an equity receivership proceeding in a court involving a corporation, as defined in section 106(3) of the Bankruptcy Act, as amended (52 Stat. 883; 11 U.S.C. 506); (2)

OEDERS OF THE SECURITIES AND EXCHANGE COMMISSION.—

The issuance, transfer, or exchange of securities, or making or delivery of conveyances, to make effective any order of the Securities and Exchange Commission as defined in section 1083(a): Provided, That— (A) the order of the Securities and Exchange Commission in obedience to which such issuance, transfer, or exchange of securities or conveyances are made recites that such issuance, transfer, or exchange, or conveyances are necessary or appropriate to effectuate the provisions of section 11(b) of the Public Utility Holding Company Act of 1935 (49 Stat. 820; 15 U.S.C. 79k (b)), (B) such order specifies and itemizes the securities and other property which are ordered to be issued, transferred, exchanged, or conveyed, and (C) such issuance, transfer, or exchange, or conveyance is made in obedience to such order. SEC. 4383. LIABILITY FOR TAX.

The tax imposed by this chapter shall be paid by any person who makes, signs, issues, or sells any of the documents and instruments subject to the taxes imposed by this chapter, or for whose use or benefit the same are made, signed, issued, or sold. The United States or any agency or instrumentality thereof shall not be liable for the tax with respect to an instrument to which it is a party, and affixing of stamps thereby shall not be deemed payment for the tax, which may be collected by assessment from any other party liable therefor.

§ 4382(b)(1)

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