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An Act to make provision as respects things done, in relation to enemy property or property treated as enemy property, in excess of the powers conferred by the law relating to trading with the enemy, and as respects income from moneys invested by custodians of enemy property: as respects copyrights, rights in inventions and designs, and other rights in or in connection with which German enemy interests subsisted, or were properly treated as subsisting, during the period of the war with Germany, as respects property allocated by way of reparation from Germany and as respects other property seized from Germany; and for puposes connected with the matters aforesaid.
[29th October 1953]
(1)Subject to the provisions of this section, any income received by a custodian [F2of enemy property appointed under section 7 of the Trading with the M1Enemy Act 1939 (herein after referred to as “the Act of 1939”)] from the investment of moneys coming into his hands (whether in pursuance of the Act of 1939 or otherwise) in his capacity as custodian, being income received by way of discount on the puchase by him of Treasury Bills or by way of interest on other loans made by him to the Treasury or on moneys placed by him in his name on deposit or current account at a bank, shall belong to the Crown and be paid into the Exchequer.
(2)The last foregoing subsection shall be deemed to have had effect as from the coming into operation of the M2Trading with the Enemy (Custodian) Order 1939, so however that it shall not be construed as authorising or requiring the repayment of any sums paid by a custodian before the passing of this Act otherwise than into the Exchequer.
F3(3)—(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Modifications etc. (not altering text)
(1)This Act shall extend to the Isle of Man and the Channel Islands.
(2)References in this Act to the Act of 1939 shall include references to that Act as it extends to the Isle of Man and the Channel Islands respectively.
(1)This Act may be cited as the Enemy Property Act 1953.
(2)It is hereby declared that this Act extends to Northern Ireland.
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