Trading with the Enemy (Custodian) (No. 5) Order, 1951
| Jurisdiction | UK Non-devolved |
1951 No. 1626
The Trading with the Enemy (Custodian) (No. 5) Order, 19515thSeptember 1951
7thSeptember 1951
The Board of Trade in exercise of the powers conferred upon them by Section 7 of the Trading with the Enemy Act, 1939(a) and of all other powers enabling them in that behalf do hereby make the following Order:—
1. Without prejudice to the effect of any Order made by the Board of Trade prior to the date of this Order and save as hereinafter otherwise provided, there shall vest in the Custodian—
(a) the beneficial interest of any enemy or enemy subject in any property belonging to or held or managed on behalf of an enemy or an enemy subject at the date of this Order consisting of securities, or being property existing by virtue of any will, settlement, trust (whether express, constructive or resulting) or intestacy or of any contract or agreement of any kind whatsoever, including any beneficial interest of an enemy or enemy subject in any business which is the subject of a restriction order or a winding-up order made under Section 3A of the said Act (as amended) or in any assets or profits (present or future) of any such business,
(b) without prejudice to the generality of the foregoing paragraph, the right to receive
(i) any monies payable presently or at any future time in respect of any such property as aforesaid,
(ii) any dividends, bonus or interest payable presently or at any future time in respect of any such securities as aforesaid and in respect of any securities comprised in any Vesting Order made prior to the date of this Order, and
(iii) any monies payable presently or at any future time in respect of any such securities as are mentioned in the last preceding sub-paragraph upon redemption or on maturity or upon such securities being drawn for payment or otherwise.
(a) 2 & 3 Geo. 6. c. 89.
2. There shall be excepted from the vesting to be effected by this Order—
(a) any estate or interest in land,
(b) any property which has come into the ownership of any persons by reason of any trade authorised generally or specially by or by any person authorised in that behalf by a Secretary of State, the Treasury or the Board of Trade,
(c) any property which at any time after the 2nd day of February, 1948, has come into the ownership of any individual who, not being either a British subject or a British protected person, possesses Japanese nationality and is resident in Bulgaria, Hungary, Roumania, or Italy,
(d) any property in respect of which any licence, consent or authority has been given under the Act or any Order made thereunder, and
(e) any right or interest the vesting of which in the Custodian would cause forfeiture or determination of such right or interest.
3. Nothing in this Order shall be taken to require payment to the Custodian...
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