CO537-(1262-1649) — Page 265

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Ref.:

CO 537/1374

THE NATIONAL ARCHIVES

Ins

2

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright

1.

00050

-6-

DETAILED COMMENTS ON THE DRAFT ORDINANCE

FART III OF THE MEMORANDUM

50

Definitions (Section 2.)

(a) AGenti

This definition includes as an

agent a person who was no longer an agent in fact or in law, but such a violent de- parture from the cannotation fa the term and such contradiction are, it is presumed necessary to produce the result that a payment to an unauthorised person is a good payment to the rightful creditor. It is

an amazing definition to appear in a British legal enactment.

(b) Capital debt:

changed to read

This definition might be

"Capital debt" means the principal

sum of money due in respect of a debt including all accrued interest

up to the date of payment or purpor- ted payment".

Debtors of the Bank were generally requested

by the liquidators to pay the principă and

accrued interest and the payments made to the

liquidators were made in respect of the prin- cipal and interest accrued to the time of

purported payment.

Moreover, where interest is expressly made

payable by the terms of the agreement or

instrument as in a Bill of Exchange, interest

is recoverable as part of the debt.

(c) Custodian:

The definition involves the

acceptance in English law of the fiction

(1) that such Japanese officer or officers

was or were appointed by the occupying power for the collection and custody and preservation of enemy property as in England in contfmplation of arrange-

ments to be made at the conclusion of

1

2

cms

Ref.:

CO 537/1374

THE NATIONAL ARCHIVES

2

Ins

Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright

restrictions. Further

information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet.

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