Prize Act 1948

JurisdictionUK Non-devolved
Citation1948 c. 9


Prize Act, 1948

(12, 13 & 14 Geo. 6.) CHAPTER 9.

An Act to make provision as to the payment, and the distribution or application, of any prize money granted by His Majesty out of the proceeds of prize captured in the late war, as to payments and receipts in respect of proceeds of prize to or from the Government or a court of a part of His Majesty's dominions outside the United Kingdom, to extinguish for the future the prerogative rights to make grants of prize money to captors and to grant prize bounty, to authorise the payment into the Exchequer of certain unclaimed sums in prize courts, and for purposes connected with the matters aforesaid.

[16th December 1948]

Be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows :—

S-1 Aggregate amounts of Naval and Marine, and R.A.F., prize payments.

1 Aggregate amounts of Naval and Marine, and R.A.F., prize payments.

1. If His Majesty is pleased by Proclamation or Order in Council to signify his intention to make a grant of prize money out of the proceeds of prize captured in the late war, there shall be paid out of the Supreme Court Prize Deposit Account—

a ) into a separate fund to be called the Royal Naval Prize Fund, as and when the Treasury and the Admiralty jointly direct (but subject to the provisions of section eight of this Act), the sum of, or sums amounting in the aggregate to, four million pounds; and
b ) into a separate fund to be called the Royal Air Force Prize Fund, as and when the Treasury and the Air Council jointly direct (but subject to the provisions of section eight of this Act), the sum of, or sums amounting in the aggregate to, one million, two hundred and fifty thousand pounds
S-2 Distribution of Naval and Marine prize payments.

2 Distribution of Naval and Marine prize payments.

(1) Sums of such respective amounts as His Majesty may by the said Proclamation or Order in Council determine shall be distributed out of the Royal Naval Prize Fund, in such manner as His Majesty may so determine, to such persons who are or have been members of any of His Majesty's naval and marine forces to which this section applies or of the crews to which this section applies of any of His Majesty's ships of war, or in the case of their death to their representatives, as His Majesty may so determine.

(2) Subject to the provisions of this subsection and to the provisions of this Act with respect to the investment of sums standing to the credit of the Royal Naval Prize Fund, the Naval Agency and Distribution Act, 1864, shall, so far as applicable, apply to sums distributable in accordance with the preceding subsection and to the distribution of those sums:

Provided that—

(a ) section seventeen of that Act (which requires forfeited and unclaimed shares and balances of prize money, and a percentage of the proceeds of prize and prize money, to be carried to the naval prize cash balance) shall not apply to sums paid into the Royal Naval Prize Fund or to sums distributable in accordance with the preceding subsection, but any forfeited and unclaimed shares and balances of such sums may be distributed in accordance with the preceding subsection or may be applied for such charitable purposes for the benefit of persons who are or have been members of any of such naval and marine forces or crews as aforesaid or their dependants, or for such other purposes for their welfare, as the Admiralty may determine; and

(b ) notwithstanding anything in section nineteen of that Act, no ship's agent shall be entitled to any share in sums distributable in accordance with the preceding subsection.

(3) Any residue of sums paid into or accruing to the Royal Naval Prize Fund not dealt with in accordance with the preceding provisions of this section shall be applied for such charitable or welfare purposes as are mentioned in the last preceding subsection.

S-3 Application of R.A.F. prize payments.

3 Application of R.A.F. prize payments.

3. Sums paid into or accruing to the Royal Air Force Prize Fund shall, with a view to the application thereof for the benefit of persons who are or have been members of any of His Majesty's air forces to which this section applies or their dependants, be distributed by way of grants to such organisations as the Air Council may determine, being organisations whose functions consist in or comprise the application of funds for charitable purposes for the...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT