Transfer exemption for land by sick industrial companies managed by workers' cooperatives prevents capital gains recognition when scheme conditions met. Transfer of land by a sick industrial company managed by its workers' cooperative, when made under a scheme prepared and sanctioned under the revival statute and effected during the revival period (from the previous year the company is declared sick until its net worth equals or exceeds accumulated losses), is not regarded as a transfer for capital gains purposes; the transaction must meet the conditions of company status, sanctioned-scheme transfer, cooperative management and prescribed timing.