1957-HKRS29-8-24_Part01 — Page 23

Transfer nud allot. ment of securities.

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(3) Any person who by payment or otherwise purports to discharge any liability from which he is relieved by this section, knowing the facts by virtue of which he is so relieved, 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 subsection it shall be a defence for the defendant 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 the Colony or a court having jurisdiction in enemy territory, and would be enforced against him by such an order.

(4) Where a claim in respect of a negotiable instrument or chose in action is made against any person who has reasonable 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 Court any sum which, but for the provisions of subsection (1), would be due in respect of the claim, and there- upon that sum shall, subject to rules of court, be dealt with according to any order of the Court, and the payment shall for all purposes be a good discharge to that person.

(5) Nothing in this section shall apply to securities to which the provisions of section 8 apply.

B. () [F

(a) any securities to which this section applies are transferred

by or on behalf of an enemy; or

(b) any such securities, being securities issued by a company, are allotted or transferred to, or for the benefit 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 company by whom the securities were issued or are managed shall take any cognisance of, or otherwise act upon, any such transfer except under the authority of the Governor.

(a) No share warrants, stock certificates or bonds, being warrants, certificates or bonds payable to bearer, shall be issued in respect of any securities to which this section applies, being securities registered or inscribed in the name of an enemy or of a person acting on behalf of, or for the benefit of, an enemy.

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(3) Any person who contravenes the provisions of this section shall be guilty of an offence and, on summary conviction, shalt be liable to a fine of two thousand dollars and to imprisonment for six months.

(4) This section applies to annuities, stock, shares, bonds, debentures or debenture stock registered or inscribed in any register, branch register or other book kept in the Colony,

CUTTANCY.

9. Any person who purchases any notes or coins which Purchase circulate in any enemy territory or any other notes or coins which of onoms are for the time being declared by an order of the Governor under subsection (3) of section 3 to be enemy currency shall be guilty of an offence of trading with the enemy.

Property of Enemies and Enemy Subjects.

10. (1) With a view to preventing the payment of money Collection to enemies and of preserving enemy property in contemplation debts and

of enemy of arrangements to be made at the conclusion of peace, the custody of Governor may appoint a Custodian of Enemy Property,

(2) The person for the time being holding the office of Custodian of Enemy Property shall be a corporation sole under that name, and by that name shall have perpetual succession with a capacity to acquire, whether as purchaser, mortgagee or other- wise, and hold in that name lands, Government securities, shares in any public company, debentures, stocks, funds, securities for money and real and personal property of every description, to site and be sued, to grant, sell, convey, assign, surrender, ex- change, partition, yield up, mortgage, demise, reconvey, reassign, Transfer or otherwise deal with and dispose of any property of any nature whatsoever, to execute deeds, using an official seal, to enter into engagements binding on himself and his successors in uffice and to do all other acts necessary or expedient to be done in the execution of the duties of his office.

(3) The Governor may by order-

(4) require the payment to the Custodian of money which would, but for the existence of a state of war, be payable to or for the benefit of a person who is an enemy, or which would, but for the provisions of section 7 or section 8, be payable to any other person;

enemy

property.