89
whether for valuable consideration or otherwise, have
any rights or remedies against any party to the Instrument
unless he proves that the transfer was made
before the commencement of the present war, and any
party to the Instrument who knowingly discharges the
instrument shall be deemed to be guilty of trading
with the enemy within the meaning of the principal Act:
Provided that this subsection shall not apply
where the transferee, or some subsequent holder of the
instrument, proves that the transfer, or some subsequent
transfer, of the Instrument was made before the nineteenth
day of November, nineteen hundred and fourteen,
in good faith and for valuable consideration.
(3) Nothing in this seetion shall be construed as
validating any assignment, delivery or transfer which
would be invalid apart from this seetion or as applying
to securities within the meaning of seetion eight of
this Act.
7. Eight to pay into court sums due
on Coupons suspected of being enemy
property.
Where during the continuance of the present wa r
any Coupon or other security transferable by delivery
is presented for payment to any Company, municipal
authoritby, or other body or person, and the Company,
body or person has reason to suspect that it is so
presented on behalf or for the benefit of an enemy, or
that since the commencement of the present war it has
been held by or for the benefit of an enemy, the
Company, body or person may pay the sum due in
respect thereof into the High Court, and the same
shall, subject to rules of court, be dealt with according
to the Orders of the court, and such a payment shall
for all purposes be a good discharge to the Company,
body or person. (v. p. 100.)
8. Invalidity of transfer of shares in
Company, &c.
(1) No transfer made after the passing of this
Act by or on behalf of an enemy of any securities
shall confer on the transferee any rights or remedies
in respect thereof and no Company or municipal
authority or other body by whom the securities were
issued or are managed shall, except as herein after
appears, take any cognizance of or otherwise act upon
any notice of such a transfer:
(2) No entry shall hereafter, duringthe continuance
of the present war, be made in any register or branch
register or other book kept in the United Kingdom
of any transfer of any securities Hierein registered,
inscribed or standing in the name of au enemy, except
by leave of a court of competent jurisdiction or of
the Board of Trade.
(3) No share warrants payable to bearer shall
be issued during the continuance of the present war
in respect of any shares or stock registered in the
name of any enemy.
(4) If any Company or any body contravenes the
provisions of this seetion the Company or body shall
be liable on conviction under the Summary Jurisdiction
Acts to a fine not exceeding one hundred pounds, and
every director, manager, secretary or other officer of
the Company or body who is knowingly a party to the
default, shall be liable on the like conviction to a
like fine or to imprisonment, with or with out hard
labour, for a term not exceeding six raonths.
(5) For the purposes of this seetion the expression
“securities” means any annuities, stock, shares, debentures,
or debenture stock issued by or on behalf of the
Government or by any municipal or other authority
or by any Company or by any other body which are
registered or inscribed in any register, branch register
or other book kept in the United Kingdom.
9. Condition as to the incorporation of
new Companies.
(1) During the continuance of the present war a
certificate of incorporation of a Company shall not
be given by the Registrar of Joint Stock Companies
until there has been filed with him either—
a) a statutory declaration by a solicitor of the
Supreme Court, or, in Scotland, by an enrolled
law agent, engaged in the formation of the
Company, that the Company is not formed for the
purpose or with the Intention of acquiring the
whole or any pari of the undertaking of a person,
firm or Company the books and documents of
which are liable to inspection under subsection (2)
of seetion two of the principal Act; or
b) a licence from the Board of Trade authorising
the acquisition by the Company of such an
undertaking.
(2) Where such a statutory declaration has been
filed it shall not be lawful for the Company, during
the continuance of the present war, without the licence
of the Board of Trade, to acquire the whole or any
pari of any such undertaking, and if it does so the
Company shall, without prejudice to any other liability,
be liable on conviction under the Summary Jurisdiction
Acts to a fine not exceeding one hundred pounds, and
every director, manager, secretary, or other officer of
the Company who is knowingly a party to the default
shall on the like conviction be liable to the like fine
or to imprisonment, with or without hard labour, for
a term not exceeding six months.
10. Additional provisions as to trading
with enemy.
(1) Seetion one of the principal Act shall apply
to a person who during the present war attempts, or
directly or indirectly öfters or proposes or agrees, or
has since the fourth day of August nineteen hundred
and fourteen attempted or directly or indirectly offered
or proposed or agreed, to trade with the enemy within
the meaning of that Act in like manner as it applies
to a person who so trades or has so traded.
(2) If any person without lawful authority in
anywise aids or abets any other person, whether or
