CO537-(1262-1649) — Page 299

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CO 537/1374

THE NATIONAL ARCHIVES

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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

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Ref.:

CO 537/1374

THE NATIONAL ARCHIVES

National Archives

restrictions. Further supplied subject to the Nat

od conditio

sand that your

N

. Further information is given in the encore dorms and conditions of supply of Not fit may be subject to copyright

and

Archives' leaflet.

liquidator on his behalf to a creditor or his agent or the Custodian or a liquidator on his behalf shall be a valid discharge of such debt to the extent of the face value of such payment.

(2) In any case

(a) where the acceptance of the payment was obtained by

means of duress or coercion; or

(b) where the payment was made in occupation currency in

satisfaction, or part satisfaction, of a capital debt which at the time of payment was not due, or, if due, was not demanded by the creditor or by his agent on his behalf, and in respect of which payment on a date certain was not of the essence of the contract, such payment shall be revalued in accordance with the scale

a scale set out in the first column of the Second Schedule hereto, to be fixed by rules made under this Ordinance, to the intent that such payment shall be a valid discharge of the debt only to the extent determined by the said scale.

4. Any payments made during the occupation period to a creditor or his agent by or on behalf of a debtor in respect of any debt incurred during the occupation period shall be a valid discharge of such debt to the extent of the face value of such payment.

5. Save as provided in section 6 any debt or any part of a debt incurred during the occupation period, or arising by virtue of a contract entered into during the occupation period, and still remaining unpaid on the date when this Ordinance come B into force shall be revalued in accordance with the scale set

a scale to

out in the second column of the Second Schedule hereto, be fixed by rules made under this Ordinance, and shall be due and payable only to the extent determined by such scale.

6. Notwithstanding any other provision of this Ordinance the liability in respect of bank deposits of a person carrying on banking business to a customer shall be limited to the amount of any pre-occupation deposit on either current or deposit account together with the amount of any deposit proved to have been made in Malayan currency during the occupation period less any with- drawals in Malayan currency and less the face value of any excess of withdrawals in occupation currency over deposits in occupation currency.

7. Any payment made during the occupation period shall bo presumed to have been made in occupation currency unless the contrary be proved.

8. Any person liable to pay interest on a debt incurred before the occupation period may apply to the High Court by originating summons for relief in respect of interest accrued and unpaid during the occupation period and the High Court may on the hearing of the surmons make an order reducing the amount of the interest due and prescribing the period within which the amount of interest due or the amount ordered to be paid shall be paid.

In deciding whether to grant such relief and the amount thereof the Court shall have regard to all the circumstances of the case

/and