The income tax and securities transfer tax arising from transfer of shares shall not be levied.

四因股份转换所产生之所得税及证券交易税，一律免征。

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III. The stamp tax on the documents of transfer of property titles that the Protection Fund Corporation accepts from the securities companies under disposition shall be exempted.

对保护基金公司接收被处置证券公司财产签订的产权转移书据，免征印花税。

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