1956-HKRS30-8-46_Part04 — Page 56

Second Schedule.

Admission of claims.

First

Schedule.

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(2) (a) Where a German enemy debt, or the balance thereof outstanding at the date of sale, together with the right to make a claim in respect thereof under these regulations, is sold after the relevant time, the Administrator may accept a claim made in accordance with the following provisions of this regulation from the purchaser, or any subsequent purchaser, instead of from a person mentioned in regulation 17:

Provided that, in the event of the death, bankruptcy, winding up, mental incapacity or absence from Hong Kong of any such purchaser, the claim may be accepted from any person authorized by the purchaser in that behalf or from any person entitled to deal with his property.

(b) The person from whom a claim is accepted under the foregoing provisions of this paragraph shall be deemed to be the claimant in relation to the German enemy debt in question,

(3) Claims for payment under these regulations shall be made to the Administrator within three months from the date on which these regulations come into operation or such further time as the Governor in Council may by order make either generally or in relation to any specified class of claim direct.

(4) Claims shall be made on the appropriate form prescribed in the Second Schedule and shall contain the information required on the form and shall be accompanied by such documents as may be so required.

(5) The Administrator may by notice in writing require the claimant to furnish within such time as may be specified în the notice such further information and documents in the claimant's possession or control as the Administrator may require for the verification of the claim.

18. (1) The amount for which claims which are not excluded under regulation 17 may be admitted for payment shall be ascertained by the Administrator in accordance with the following provisions of this regulation.

(2) In respect of claims arising out of bonds of the descrip- tions specified in column of the First Schedule hereto, the amount shall be ascertained by multiplying the capital out-

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standing on the 3rd day of September, 1939, in respect of the bond by the figure specified in relation to that bond in the second column of the said Schedule.

(3) In respect of claims arising out of credits, advances or other indebtedness which fell under the German Credit Agreement of 1939 (Standstill Agreement) and similar credits and advances made for the purpose of financing current trade by persons carrying on the business of banking in Hong Kong, the amount shall be ascertained by multiplying the amount due in respect of capital by 1.5.

(4) In respect of claims arising out of other loans, the amount shall be the aggregate of-

(a) the amount due in respect of interest at the date of coming

into operation of the Ordinance;

(b) the amount (if any) attributable to the loan in respect of sinking fund payments due at the date of coming into operation of the Ordinance; and

(c) the amount (if any) due in respect of capital repayment in accordance with the terms of the loan at the date of coming into operation of the Ordinance :

Provided that the amount admitted for payment under this paragraph in respect of any loan shall not exceed 125 per cent of the capital outstanding on the 3rd day of September, 1939.

For the purposes of this paragraph no account shall be taken of any reduction in the rate of interest or other alteration of the terms of the loan accepted for the purposes of the Anglo- German Transfer Agreement of July, 1938.

(5) In respect of claims arising out of trade debts, the amount shall be calculated by multiplying the amount due at the date of coming into operation of the Ordinance (excluding any sum due in respect of interest) by 1.5.

(6) In respect of any claims arising out of any obligation not mentioned in any of the preceding paragraphs of this regulation, the amount shall be the sum due at the date of coming into operation of the Ordinance:

Provided that, in calculating the amount for the purpose of claims for payments arising out of the use in Germany on or after the 3rd day of September, 1939, of inventions, designs,