TRADING WITH THE ENEMY (CUSTODIAN) ORDER, 1939, Dated September 16, 1939, Made by the Board of Trade UNDER SECTION 7 OF THE TRADING WITH THE ENEMY ACT, 1939 (2 & 3 GEO. 6. C. 89).
| Jurisdiction | UK Non-devolved |
| Citation | SI 1939/1198 |
| Year | 1939 |
1939 No. 1198
TRADING WITH THE ENEMY
3. Custodian of Enemy Property
(1) Order of 1939, as amended
THE TRADING WITH THE ENEMY (CUSTODIAN) ORDER, 1939, DATED SEPTEMBER 16, 1939, MADE BY THE BOARD OF TRADE UNDER SECTION 7 OF THE TRADING WITH THE ENEMY ACT, 1939 (2 & 3 GEO. 6. C. 89).[This Order (S.R. & O. 1939, II, p. 3202) is printed as amended by Orders, dated January 23, 1940 (S.R. & O. 1940 (No. 94) I, p. 1050); May 16, 1940 (S.R. & O. 1940 (No. 734) I, p. 1050); May 30, 1941 (S.R. & O. 1941 (No. 765) I, p. 1138); February 26, 1942 (S.R. & O. 1942 (No. 342) I, p. 818); August 10, 1944 (S.R. & O. 1944 (No. 914) I, p. 1026.).]
The Board of Trade in exercise of the powers conferred upon them by Section 7 of the Trading with the Enemy Act, 1939, (hereinafter called "the Act") and of all other powers, enabling them in that behalf do hereby make the following Order:—
1.—(1) Any money which would, but for the existence of a state of war, be payable to or for the benefit of a person who is an enemy, and any money which is to be deemed for the purposes of the Act to be money which would, but for the existence of a state of war, be so payable, shall be paid to the Custodian
(ii) Without prejudice to the generality of the foregoing paragraph, there shall be paid to the Custodian in particular any money which would, but for the existence of a state of war, be payable to or for the benefit of a person who is an enemy, by way of:
(a) dividends, bonus or interest, in respect of any shares, stock, debentures, debenture stock, bonds or other securities, issued by any company or government, or any municipal or other authority;
(b) payment of any securities which have become payable on maturity or by being drawn for payment or otherwise;
(c) interest or other payment in respect of any loan or deposit whether secured or unsecured;
(d) profits or share of profits in any business, syndicate or other mercantile enterprise or adventure;
(e) debt, including money in the possession of any bankers, whether on deposit or current account or whether held in trust or in custody for or for the benefit of an enemy;
(f) money due under or in respect of any policy of assurance;
(g) rent or other payment reserved out of or payable in respect of freehold or leasehold property or any interest in land or any manor;
(h) payment in respect of any requisitioned property;
(i) payment arising under any trust, will or settlement.
(iii) Any money which would, but for the provisions of Section 4 or Section 5 of the Act, be payable to any purported assignee, transferee or allottee, shall be paid to the Custodian.
(iv) Any money required to be paid under the foregoing paragraphs of this Article to the Custodian, shall be paid:
(a) within fourteen days after the coming into force of this Order, if the money has become payable or would, but for the existence of a state of war, have become payable before the coming into force of this Order; or
(b) within fourteen days after the day on which a person becomes an enemy, if the money is required to be paid to the Custodian by reason of that person being an enemy and the money has become payable or would, but for the existence of a state of war, have become payable before the day on which that person becomes an enemy; or
(c) in any other case, within fourteen days after the day on which the money becomes payable or would, but for the existence of a state of war, become payable.
(d) in cases in which money would, but for the existence of a state of war, be payable in a foreign currency to or for the benefit of a person who is an enemy (other than cases in which money is payable under a contract in which provision is made for a specified rate of exchange), in English currency at the middle official rate of exchange fixed by the Bank of England on the date on which the payment became due to that person, or the middle rate of exchange for telegraphic transfers in London on that date, or if there was no such rate on that date at such rate as the Treasury may determine as appropriate for ascertaining the value in English currency of the money payable on that date.(a)
Provided that if the money would...
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