1967 ORD NO 1310 - Laserfiche WebLink

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!I 'nance shall not apply to the making or delivery of convey - 1 � ordi , �I Securities and Exchange 2`i� antes to make effective any order of the . 3 as defined in subdivision (a) of Section 1083 of 't e Commission, 41� Internal Revenue Code of 1954; but only if -- 5 (a) The order of the Securities and Exchange 6 in obedience to which. such conveyance is made recites Commission conveyance is necessary or appropriate to effectuate that such � I � I' i 9 I the provisions of Section 79k of Title 15 of the United States 10I Code, relating 'n to the Public Utility Holding Company Act of 1935; 1 11 Ib Such order specifies the property which is ( ) 12 ordered to be conveyed; 13 (c) Such conveyance is made in obedience to such 14 15 order. Section 8. (a) In the case of any realty held 161 no lev shall be imposed pursuant to this 17 by a partnership, Y 18ordi'nance b reason of any transfer of an interest in a partner- , Y 19!I ship or otherwise, if-- �I a0 ''! C1) Such partnership (or another partnership) ,I 21 !! considered a continuing partnership within the meaning of � � !! is cons i 22 i 2.3 , Section 708 of the Internal Revenue Code of 1954; an .4 � (2) Such continuing partnership continues to # I �I 25 hold the realty concerned. rshi p y partnership 26 (b) If there is a termination of an p 27I 1 within the meaning of Section 708 of the Internal Revenue Code g 28 of this ordinance, such partnership shall of 1954, for purposes 29 be treated as having executed an instrument whereby there was 30 for fair market value (exclusive of the value of any 31 I conveyed, g all realty held by such lien or encumbrance 32 i, remaining thereon), -3-