Chapter 8
During the year 1948 a total of 65 Ordinances was enacted. As in the previous year a number of these Ordin- ances were consequential on the Japanese Occupation of the Colony. A number of the 1948 Ordinances have also been enacted to provide legislation to meet changed conditions and new problems confronting the Colony in the post-war period. In the former category Ordinance of particular importance in LEGISLATION this Colony and of unusual type was
an
enacted under the title of "The Debtor and Creditor (Occupation Period) Ordinance." The introduction during the occupation by the Japanese of the military yen cur- rency and the compulsory liquidation of firms in the Colony having the nationality of countries which were at war with Japan caused a serious and far-reaching disruption in the business life of the Colony exemplified by the difficulty of determining after the occupation the degree of validity to be accorded to money payments made and debts incurred during enemy occupation. A Moratorium was, however, imposed on all debts incurred prior to the 13th September, 1945 by Proclamation (No. 6) of the Military Administration which assumed control on termination. of hostilities.
The Moratorium afforded a breathing space within which those sections of the community most interested in the debtor and creditor problem could consider and make representations to Government as to its solution. It was ultimately decided that before the Moratorium could be lifted legislation should be enacted to determine the degree of such validity. The Ordinance under discussion provided the required legislation and its enactment was followed by the lifting of the Moratorium.
Another legacy of the Japanese Occupation was presented by the problem of the effect of the occupation on contractual relationship between landlord and tenant particularly with reference to the payment of rent in respect of the period of the occupation. In solution of this problem the Rent (War Period) Relief Ordinance, 1948, was enacted containing legislation designed to relieve tenants from payment of rent in respect of the period of the Japanese Occupation and to adjust the rights of the landlords and tenants. The legislation has reflected prior agreement of property owners that, provided they were not called upon to
92