1Any transaction or any act incident to a transaction or reorganization approved by a court of competent jurisdiction in which securities are issued and exchanged for one or more outstanding securities, claims or property interests, cash, or any combination thereof, shall be exempt from the registration provisions of Section 50517.07, F.S.52Additionally, any person involved in the facilitation of such court approved transaction or reorganization shall be exempt from the registration provisions of Section 75517.12, F.S., 77but only to the extent necessary to carry out such transaction.
