transfer any money held by Mm under tMs Act to
the Custodian of another part thereof.
2. Payment of dividends, & c. payable
t o e n e m y.
(1) Any sum which, bad a state of war not
existed, would have been payable and paid to or for
the benefit of an enemy, by way of dividends, interest
or share of profits, shall be paid by the person, firm
or Company by whom it would have been payable to
the Custodian to hold Subject to the provisions of
this Act and any Order in Council made thereuuder,
and the payment shall be accompanied by such particulars
as the Board of Trade may prescribe, or as
the Custodian, if so authorised by the Board of Trade
may require.
Any payment required to be made under this
subsection to the Custodian shall be made —
(a) within fourteen days after the passing of this
Act, if the sum, had a state of war not
existed, would have been paid befere the
passing of this Act; and
(b) in any other case within fourteen days after
it would have been paid.
(2) Where before the passing of this Act any
such sum has been paid into any account with a bank,
or has been paid to any other person in trust for an
enemy, the person, firm or Company by whom the
payment was made shall, within fourteen days after
the passing of this Act, by notice in writing, require
the bank or person to pay the sum over to the
Custodian to hold as aforesaid, and shall furnish the
Custodian with such particulars as aforesaid. The
bank or other person shall, within one weck after
the receipt of the notice, comply with the requirement
and shall be exempt from all liability for having
done so.
(3) If any person falls to make or require the
making of any payment or to furnish the prescribed
particulars within the time mentioned in this section,
he shall, on conviction under the Summaiy Jurisdiction
Acts, be liable to a fine not exceeding one
hundred pounds or to imprisonment, with or without
hard labour, for a term not exceeding six months, or
to both such fine and imprisonment, and in addition
to a further fine not exceeding fifty pounds for every
day during which the default continues, and every
director, manager, secretary or officer of a Company,
or any other person who is knowingly a party to the
default shall, on the like conviction, be liable to the
like penalty.
(4) If, in the case of any person, firm or Company
whose books and documents are liable to
inspection under subsection (2) of section two of the
Trading with the Enemy Act, 1914 (hereinafter referred
to as the principal Act), any question arises as to
the araount which would have been so payable and
paid as aforesaid, the question shall be determined by
the person who may have been or who may be appointed
to inspect the books and documents of the person,
firm or Company, or, on appeal, by the Board of Trade,
and if, in the course of determining the question, it
appears to the inspector or the Board of Trade that
the person, firm or Company has not distributed as
dividends, interest or profits the whole of the amount
properly available for that purpose, the inspector or
Board may ascertain what amount was so available and
require the whole of such amount to be so distributed,
and, in the case of a Company, if such dividends have
not been declared, the inspector or the Board may
himself or themselves declare the appropriate dividends,
and every auch declaration shall be as effective as a
declaration to the like effect duly made in accordance
with the Constitution of the Company:
Provided that where a Controller has been appointed
under section three of the principal Act this subsection
shall apply as if for references to the inspector
there were substituted references to the Controller.
(5) For the purposes of this Act the expression
“dividends, interest or share of profits” means any
dividends, bonus or interest in respect of any shares,
stock, debentures, debenture stock or other obligations
of any Company, any interest in respect of any loan
to a firm or person carrying on business for the purposes
of that business, and any profits or share of
profits of such a business, and, where a person is
carrying on any business on behalf of an enemy, any
sum which, had a state of war not existed, would have
been transmissible by a person to the enemy by way
of profits from that business shall be deemed to be a
sum which would have been payable and paid to that
enemy.
3. Duty of trustees for enemies to
notify the Custodian.
(1) Any person who holds or manages for or on
behalf of an enemy any property, real or personal (including
any rights, whether legal or equitable, in or
arising out of property, real or personal), shall, within
one month after the passing of this Act or if the property
comes into his possession or under his control
after the passing of this Act, then within one month
after the time when it comes into his possession or
under bis control, by notice in writing communicate
the fact to the Custodian, and shall furnish the Custodian
with such particulars in relation thereto as the
Custodian may require, and if any person fails to do
so he shall, on conviction under the Summary Jurisdiction
Acts, be liable to a fine not exceeding one
hundred pounds or to imprisonment, with or without
hard labour, for a term not exceeding six months, or
to both such a fine and imprisonment, and in addition
to a further fine not exceeding fifty pounds for every
d uring which the default continues.
(2) Every Company incorporated in the United
Kingdom and every Company which, though not incorporated
in the United Kingdom, has a share transfer
or share registration office in the United Kingdom
