The tax imposed pursuant to this chapter shall not apply to the making, delivering or filing of conveyances to make effective any plan of reorganization or adjustment:
A. Confirmed under the Federal Bankruptcy Act, as amended
B. Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in subdivision (in) of Section 205 of Title 11 of the United States Code, as amended
C. Approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivision (3) of Section 506 of Title 11 of the United States Code, as amended or
D. Whereby a mere change in identity, form or place of organization is affected. Subdivisions A to D inclusive, shall only apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.
(Ord.68-1 § 6, 1968.)