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in contravention of the law relating to trading with the enemy, 
and for preserving, with a view to arrangements to be made 
at the conclusion of peace, such money and certain other 
property belonging to enemies ; and to make other provisions 
for preventing trading with the enemy: 
Be it therefore enacted by the King’s most Excellent Majesty, 
by and with the advice and consent of the Lords Spiritual and 
Temporal, and Commons, in this present Parliament assembled, 
and by the authority of the same, as follows :— 
Constitution op Office of Custodian of Enemy Property. 
1. —(1) The Board of Trade shall appoint a person to act 
as Custodian of enemy property (hereinafter referred to as 
“ the Custodian ”) for England and Wales, for Scotland, and 
for Ireland respectively, for the purpose of receiving, holding, 
preserving, and dealing with such property as may be paid to 
or vested in him in pursuance of this Act, and if any question 
arises as to which Custodian any money is to be paid to under 
this Act, the question shall be determined by the Board of 
Trade. 
(2) The Public Trustee shall be appointed to be the Custodian 
for England and Wales, and shall, in relation to all property 
held by him in his capacity of Custodian, have the like status, 
and his accounts shall be subject to the like audit, as if the 
same were held by him in his capacity of Public Trustee, and 
the Public Trustee Act, 1906 [6 Edw. 7, c. 55], shall apply 
accordingly. 
(3) The Custodian for Scotland and Ireland respectively 
shall have such powers and duties with respect to the property 
aforesaid as may be prescribed by regulations made by the 
Board of Trade with the approval of the Treasury. 
(4) The Custodian may place on deposit with any bank, or 
invest in any securities, approved by the Treasury, any moneys 
paid to him under this Act, or received by him from property 
vested in him under this Act, and any interest or dividends 
received on account of such deposits or investments shall be 
dealt with in such manner as the Treasury may direct: 
Provided that the Custodian for any part of the United 
Kingdom shall, if so directed by the Treasury, transfer any 
money held by him under this Act to the Custodian of another 
part thereof. 
Payment of Dividends, &c., Payable to Enemy. 
2. —(1) Any sum which, had a state of war not existed, 
would have been payable and paid to or for the benefit of an