CAP. 346]
Trading with the Enemy.
Power to control and wind up certain businesses.
[cf. 2 & 3 Geo. 6 c. 89, s. 3A.]
[1964 Ed.
(4) Any person who, with intent to evade the provisions of this section, destroys, mutilates or defaces any book or other document which an inspector or a supervisor is or may be authorized under this section to inspect, shall be guilty of an offence and shall be liable----
(a) on conviction, on indictment, to a fine of five thousand dollars and to imprisonment for five years; or
(b) on summary conviction, to a fine of one thousand dollars and to imprisonment for six months.
6. (1) Where any business is being carried on in the Colony by, or on behalf of, or under the direction of, persons all or any of whom are enemies or enemy subjects or appear to the Governor to be associated with enemies, the Governor may, if he thinks it expedient so to do, make-
(a) a restriction order prohibiting the carrying on of the business either absolutely or except for such purposes and subject to such conditions as may be specified in the order; or
(b) a winding-up order requiring the business to be wound up,
and the making of a restriction order as respects any business shall not prejudice the power of the Governor, if he thinks it expedient so to do, at any subsequent date to make a winding-up order in respect of that business.
(2) Where an order under subsection (1) is made in respect of any business, the Governor, by that order or by a subsequent order, may appoint a controller to control and supervise the carrying out of the order, and, in the case of a winding-up order, to conduct the winding-up of the business, and may confer on the controller any such powers in relation to the business as are exercisable by a liquidator, in the voluntary winding-up of a company, in relation to the company, including power in the name of the person carrying on the business or in his own name, and by deed or otherwise, to convey or transfer any property and power to apply to the Court to determine any question arising in the carrying out of the order, and may by the order confer on the controller such powers as the Governor thinks necessary or convenient for the purpose of giving full effect to the order.
(3) Where a restriction order or a winding-up order is made in respect of any business, the distribution of any assets of the business which are distributed while the order is in force shall be subject to the same rules as to preferential payment as are applicable to the distribution of the assets of a company which is being wound up, and the said assets of the business shall, so far as they are available for discharging unsecured debts, be applied in discharging unsecured debts due to creditors of the business