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The Trading with the Enemy (Authorisation) (Japan) Order 1950

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Statutory Instruments

1950 No. 28

TRADING WITH THE ENEMY

The Trading With the Enemy (Authorisation) (Japan) Order, 1950

Made

6th January 1950

The Board of Trade in exercise of the powers conferred upon them by Sections 1 and 5 of the Trading with the Enemy Act, 1939 (hereinafter referred to as “the Act”) and of all other powers enabling them in that behalf do hereby make the following Order:—

1.  Notwithstanding anything contained in Section 1 of the Act, any person, unless the Board of Trade otherwise direct, may trade except as provided in Articles 3 and 4 hereof with any person to whom this Order applies.

(i)2.  The transfer by or on behalf of any person within the description contained in Article 5 of this Order of any annuities, stocks, shares, bonds, debentures or debenture stock registered or inscribed in any register, branch register or other book kept in the United Kingdom which, on or after the date of this Order, come into the ownership of any such person as aforesaid, is hereby sanctioned.

(ii)The Board of Trade hereby consent to the allotment or transfer of any securities as defined in paragraph (i) of this Article to or for the benefit of any individual who is an enemy subject resident in Japan or any body of persons constituted or incorporated in, or under the laws of Japan.

3.  As regards any property situate in the United Kingdom belonging to or held or managed at the date of this Order on behalf of any person to whom this Order applies and as regards any property arising presently or at any future time out of such property this Licence shall not, except in the case of anything done under an authority, given generally or specially by, or by any person authorised in that behalf by, a Secretary of State, the Treasury or the Board of Trade, extend to or authorise any trade in respect thereof.

4.  This Licence shall not, except in the case of anything done under an authority, given generally or specially by, or by any person authorised in that behalf by, a Secretary of State, the Treasury or the Board of Trade, extend to or authorise any trade in respect of any contract entered into before the date of this Order.

5.  This Order applies

(i)to any Government, public or other authority in Japan.

(ii)to any individual resident in Japan.

(iii)as respects any business carried on in Japan, to any individual or body of persons (whether corporate or unincorporate) carrying on that business.

6.  For the purposes of this Order (i) “property” means real or personal property, and includes any estate or interest in real or personal property, any negotiable instrument, debt or other chose in action, and any other right or interest whether in possession or not, and (ii) “Japan” means all territory which was under Japanese sovereignty on the 7th December, 1941.

7.  The Orders specified in the Schedule hereto are hereby revoked.

8.—(1) This Order may be cited as the Trading with the Enemy (Authorisation) (Japan) Order, 1950.

(2) The Interpretation Act, 1889 shall apply to the interpretation of this Order as it applies to the interpretation of an Act of Parliament.

H. S. Gregory

A Secretary of the Board of Trade

Dated this 6th day of January, 1950

SCHEDULE

1.  The Trading with the Enemy (Authorisation) (Japan) Order, 1947(1).

2.  The Trading with the Enemy (Authorisation) (Japan) Order, 1948(2).

3.  The Trading with the Enemy (Authorisation) (Japan) (No. 2) Order, 1948 (3)

EXPLANATORY NOTE

Trade with persons in Japan has hitherto been permitted to a limited extent only. This Order authorises trade with such persons without restriction except in so far as concerns Japanese property and property rights in the United Kingdom at the date of this Order and property (which includes income) arising now or in future from such property. It further permits the transfer or allotment of securities, as defined, to individuals and bodies of persons in Japan. It revokes certain earlier Orders which authorised trade to a limited degree.

(1)

I, p. 2178.

(2)

I, p. 4365.

(3)

I, p. 4366.

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