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[Subsidiary]
CAP. 241] Emergency (Principal) Regulations.
[1967 Ed.
(2) Where, in respect of any ship or aircraft, there subsists between a person to whom this paragraph applies and any other person a charterparty or other contract under which the first-mentioned person is entitled to possession of the ship or aircraft or has the right to have any articles carried in the ship or aircraft or to use any space or accommodation in the ship or aircraft, the competent authority may serve on the first-mentioned person, in any manner appearing to the competent authority to be convenient, a notice stating that on such date as may be specified in the notice his rights and liabilities under the contract will be transferred to the competent authority; and in that event the contract shall, as regards any rights exercisable, or liabilities incurred, on or after the said date, have effect (subject to the provisions of the next following paragraph) as if the competent authority were a party to the contract instead of the person on whom the notice was served and as if for any reference in the contract to that person there were substituted a reference to the competent authority.
The persons to whom this paragraph applies are----
(a) every British subject not being resident in a Dominion;
(b) every corporation incorporated under the law of
(i) any part of the United Kingdom;
(ii) the Isle of Man or any of the Channel Islands;
(iii) any Colony or British protectorate administered by Her Majesty's Government in the United Kingdom; or
(iv) any territory in respect of which a mandate on behalf of the League of Nations has been accepted by Her Majesty and is being exercised by Her Majesty's Government in the United Kingdom or any territory administered by the government of any part of Her Majesty's dominions under the trusteeship system of the United Nations.
(3) The competent authority may at any time cancel a notice served under paragraph (2) in respect of a contract, and thereupon the said paragraph shall, unless and until a further notice is served thereunder in respect of that contract, cease to operate in relation to the contract as regards any rights exercisable, or liabilities incurred, on or after the date on which the cancellation takes effect.
Notice of any such cancellation shall be given as soon as may be by the competent authority in such manner as that authority thinks best for informing the person concerned.
(4) The competent authority may, to such extent and subject to such restrictions as it thinks proper, delegate all or any of its functions under paragraph (1), (2) or (3) of this regulation to any specified persons or class of persons.
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