CO537-(1262-1649) — Page 270

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THE NATIONAL ARCHIVES

N

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. CO 537/1374 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 copynght

6.

-11-

less the face value of any withdrawals in occupation

currency.

CLAUSE 8

This clause should be subject to the following

provisions:—

(a) provided that where interest has since the

occupation period been paid by agreement between the parties such agreement shall not be re-opened;

(b) provided that nothing in this section shall

affect intereat recoverable as part of the debt or under the Bills of Exchange Act 1882 or local enactment to the same effect; (c) provided also that the Court in deciding

whether or not relif should be granted should in particular have regard to the loss sustained by the creditor by reason of his being deprived of his money.

In the event of a modification or cancellation of Proclamation No. prohibiting the registration

of securities dealt in after December 25, 1941,

without the approval in writing of the Finance Controllern it is suggested that some provision be made whereby after a notice should first be given in writing by any creditor to the Company concerned of any stock, share, bond or debenture, charged to the creditor by way of security and released by the Japanese, and that after such notice no transfer should be registered until the Court has decided on an orig- inating summons whether or not the security should not be reinstated and returned to the possession of

the Creditor.

In many cases debtors who on the purported payment

of their debts obtained the release of their secur- ities from the Japanese liquidator have the deposited again with the Banks pending legislation. In these cases it is assumed that the securities will remain under charge to the Bank under Clause 9 (1).

The statement made in Part II (vi) that there have J been no entries by the Japanese in the Hong Kong land

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