CO129-609-4 Future policy- draft proclamation for moratorium on unsettled debts 24-8-1945 - 22-2-1947 — Page 33

"land" includes land of whatever tenure;

33.

tenement

and hereditamenta corporeal or incorporeal; rights over,

and interests in land; houses and other buildings and

fixtures attached to the earth; and an undi vided share

in land;

"Local Authority" includes

Suspension of business and clos- ing of premises.

Re-opening of premises and resumption of business.

Moratorium proclaimed.

PART II CLOSING OF FINANCIAL INSTITUTIONS

3. (1) Every financial institution shall forthwith

suspend business and close its premises to the public.

(2) The re-opening of any premises so closed and

the resumption of any business so suspended shall be

subject to such terms, conditions and restrictions as the

Controller, or any officer authorised by him in that

behalf, may prescribe, by notice or by general or

specific order or by written communication addressed to

the financial institution concerned hotwithstanding

anything in Section 3 contained panks may:-

(a)

(b)

دا مدم

receive accounts and otherwise conduct new

business in respect of the British Military

Administration or any department thereof, or in

respect of any Government or local Authority.

operate any account or class of account which the

the Controller may, by writing authorise them

or any of them to operate.

PART III - MORATORIUM

4. Except as hereinafter provided, a moratorium is

hereby proclaimed in respect of all debts incurred before

the date when this Proclamation takes effect within the the

area in which such debt is incurred.

Effect of Moratorium,

5.

(1) During the period of the moratorium,

all