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Section 2445. Exemptions. Any tax imposed pursuant to this Part 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 (m) 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 effected. Subdivisions (a) to (d), inclusive, of this Section 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. Section 2446. Exemptions. Any tax imposed pursuant to this Part 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 of Section 1083 of the Internal Revenue Code of 1954; but only if-- (a) The order of the Securities and Exchange Commission in obedience to which such 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, relating to the Public utility Holding Company Act of 1935; (b) Such order specifies the property which is ordered to be conveyed; (c) Such conveyance is made in obedience to such order. Section (b) (c) 2447. Partnership Transactions. In the case of any realty held by a partnership, no levy shall be imposed pursuant to this Part by reason of any transfer of an interest in a partnership or otherwise in the event the following conditions obtain: (1) Such partnership (or another partnership) is con- sidered a continuing partnership within the meaning of Section 708 of the Internal Revenue Code of 1954; and (2) Such continuing partnership continues to hold the realty concerned. If there is a termination of any partnership within the meaning of Section 708 of the Internal Revenue Code of 1954, for purposes of this Part, such partnership shall be treated as having executed an instrument whereby there was conveyed, for fair market value (exclusive of the value of any lien or encumbrance remaining thereon), all realty held by such partnership at the time of such termination. Not more than one tax shall be imposed pursuant to this Part by reason of a termination described in subdivision ~), and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination. -2-