(a) Any tax imposed pursuant to this chapter shall not apply to the making or delivery of conveyances to make effective any order of the Securities and Exchange Commission, as defined in subdivision (a) of Section 1083 of the Internal Revenue Code of 1986, as amended, but only if:
(1) The order of the Securities and Exchange Commission in obedience to which such instrument of conveyance is made recites that such conveyance is necessary or appropriate to effectuate the provisions of Section 79k of Title 15 of the United States Code, as amended, relating to the Public Utility Holding Company Act of 1935, as amended;
(2) Such order specifies the realty which is ordered to be conveyed; and
(3) Such conveyance is made in obedience to such order.
(Ord. 4073 § 8, 1992: Ord. 2398 § 1 (part), 1967)