CHAPTER 114 - TRADING WITH THE ENEMY ACT: SUBSIDIARY LEGISLATION

INDEX TO SUBSIDIARY LEGISLATION

Custodian of Enemy Property Order

Trading with the Enemy (Insolvency) Order

Trading with the Enemy (Investment) Order

Trading with the Enemy (Custodian) Order

Trading with the Enemy (Custodian) (Amendment) Order

Trading with the Enemy (Custodian) (Specified Persons) Order

Trading with the Enemy (Authorisation) Order

CUSTODIAN OF ENEMY PROPERTY ORDER

[Section 11]

Arrangement of Paragraphs

   Paragraph

   1.   Title

   2.   Money to be paid to Custodian

   3.   Vesting Orders

   4.   Disposal of money or property

   5.   Production of documents

   6.   Dealing with enemy property prohibited

   7.   Production of documents by managers, etc

   8.   Sale of shares or stock

   9.   Prescribed fees

   10.   Interpretation

GN 91 of 1940,

GN 171 of 1940,

GN 191 of 1941,

GN 154 of 1948,

GN 497 of 1964,

SI 5 of 1965<FC:255,0,0>.

 

1.   Title

This Order may be cited as the Custodian of Enemy Property Order.

 

2.   Money to be paid to Custodian

   (1) Any money which would, but for the existence of a state of war, be payable to or for the benefit of a person who is an enemy, and any money which is to be deemed for the purposes of the Act to be money which would, but for the existence of a state of war, be so payable, shall be paid to the Custodian.

   (2) Without prejudice to the generality of sub-paragraph (1), there shall be paid to the Custodian in particular any money which would, but for the existence of a state of war, be payable to or for the benefit of a person who is an enemy, by way of—

      (a)   dividends, bonus or interest, in respect of any shares, stock, debentures, debenture stock, bonds or other securities, issued by any company or government, or any municipal or other authority;

      (b)   payment of any securities which have become payable on maturity or by being drawn for payment or otherwise;

      (c)   interest or other payment in respect of any loan or deposit whether secured or unsecured;

      (d)   profits or share of profits in any business, syndicate or other mercantile enterprise or adventure;

      (e)   debt, including money in the possession of any bankers, whether on deposit or current account or whether held in trust or in custody for or for the benefit of an enemy;

      (f)   money due under or in respect of any policy of assurance;

      (g)   rent or other payment reserved out of or payable in respect of freehold or leasehold property or any interest in land;

      (h)   payment in respect of any requisitioned property;

      (i)   payment arising under any trust, will or settlement.

   (3) Any money which would, but for the provisions of sections 7 or 8 of the Act be payable to any purported assignee, transferee or allottee, shall be paid to the Custodian.

   (4) Any money required to be paid under sub-paragraphs (1), (2) and (3) to the Custodian, shall be paid—

      (a)   within fourteen days after the commencement of this Order, if the money has become payable or would but for the existence of a state of war, have become payable before the commencement of this Order; or

      (b)   within fourteen days after the day on which a person becomes an enemy, if the money is required to be paid to the Custodian by reason of that person being an enemy and the money has become payable or would, but for the existence of a state of war, have become payable before the day on which that person becomes an enemy; or

      (c)   in any other case, within fourteen days after the day on which the money becomes payable or would, but for the existence of a state of war, become payable;

      (d)   in cases in which money would, but for the existence of a state of war, be payable in a foreign currency to or for the benefit of a person who is an enemy (other than cases in which money is payable under a contract in which provision is made for a specified rate of exchange), in currency which is legal tender within the Republic (hereinafter referred to as Zambian currency) at such rate of exchange as the President may determine as appropriate for ascertaining the value in Zambian currency of the money payable on that date.

   (5) Nothing in the foregoing provisions of this Order shall be taken to require payment to the Custodian of any money, the payment of which is authorised to some other person, under an authority given generally or specifically by, or by any person authorised in that behalf by, the President.

   (6) The Custodian shall have power to sue for and recover any moneys payable to him under this Order.

[Am by GN 191 of 1941; SI 5 of 1965.]

 

3.   Vesting Orders

   (1) Property already lawfully vested in the Custodian shall until it has been lawfully divested remain vested in the Custodian, and the President, in any case where it appears to him to be expedient to do so, may by order vest in the Custodian such enemy property as may be prescribed or the right to transfer such other enemy property as may be prescribed. Any order so made by the President is hereinafter referred to as a “Vesting Order”.

   (2) The Custodian shall, except in so far as may be otherwise prescribed by the Vesting Order, have such powers with regard to the enemy property or the right to transfer enemy property vested in him by a Vesting Order as are prescribed by this Order.

   (3) A Vesting Order as respects property of any description shall be of the like purport and effect as a vesting order as respects property of the same description made by the High Court under the Trustee Act, 1893, of the United Kingdom, and shall be sufficient to vest in the Custodian any property or the right to transfer any property as provided by the Vesting Order without the necessity of any further conveyance, assurance or document.

 

4.   Disposal of money or property

   (1) The Custodian shall, subject to the provisions of sub-paragraph (2) and except in so far as the President either generally or in any specific case may otherwise direct or order, hold any money paid to him under this Order and any property or the right to transfer any property vested in him under any Vesting Order until the termination of the state of war, and shall thereafter deal with the same in such manner as the President shall direct.

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