593894-1939-Ordinance-passed-and-assented-to---Law-revision--No-33-of-1939 — Page 80

THE HONG KONG GOVERNMENT GAZETTE, SEPTEMBER 2, 1939.

Schedule,-contd.

SHORT TITLE.

AMENDMENT OR REPEAL.

55. The Trading with the Enemy Ordin-

ance, 1914.

(No. 25 of 1914), -contd.

remedies against any party to the instru- ment.

(2) Sub-section (1) shall apply in relation to any transfer of any coupon

or other security transferable by delivery, not being a negotiable instrument, as it applics in relation to any assignment of a chose in action.

(3) If any person by payment or other- wise purports to discharge any liability from which he is relieved by this section, knowing the facts by virtue of which he is so relieved, he shall be deemed to have thereby traded with the enemy:

Provided that in any proceedings for an offence of trading with the enemy which are taken by virtue of this sub-section it shall be defence for the defendant

ધ્ર

to prove that at the time when he purported to discharge the liability in question he had reasonable grounds for believing that the liability was enforceable against him by order of a competent court, not being either a court having jurisdiction in this Colony or a court of a State at war with His Majesty, and would be enforced against him by such an order.

(4) Where a claim in respect of a nego- tiable instrument or chose in action is made against any person who has reason- able cause to believe that, if he satisfied the claim, he would be thereby committing an offence of trading with the enemy, that person may pay into the Supreme Court any sum which, but for the provisions of sub-section (1), would be due in respect of the claim, and thereupon that sum shall, subject to the provisions of the Code Ordinance of Civil Procedure and to rules of court, be No. 3 of

dealt with according to any order of the 1901.

court. and the payment shall for all pur-

poses be a good discharge to that person.

(5) Nothing in this section shall apply to securities to which section 7 applies.

7.----(1) If—

Transfer and

(a) any securities to which this section allotment of applies are transferred by or on behalf of securities.

an enemy, or

(b) any such securities, being securities issned by a company within the meaning

of the Companies Ordinance, 1932, are Ordinance allotted or transferred to, or for the benefit No. 39 of

1932. of, an enemy subject without the consent of the Governor,

then, except with the sanction of the Governor, the transferee or allottee shall not, by virtue of the transfer or allotment, have any rights or remedies in respect of the securities; and no body corporate by whom the securities were issued or are managed shall take any cognizance of, or otherwise act upon, any such transfer except under the authority of Governor.

the

891

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