12. (1) No person shall by virtue of any assignment of any debt or delivery of any coupon or other security transferable by delivery, or transfer of any other obligation, made or to be made in his favour by or on behalf of an enemy, whether for valuable consideration or otherwise, have any rights or remedies against the persons liable to pay, discharge or satisfy the debt, security or obligation, unless he proves that the assignment, delivery, or transfer was made by leave of the Treasury or was made before the commencement of the present war, and any person who knowingly pays, discharges or satisfies any debt, to which this subsection applies, shall be deemed to be guilty of the offence of trading with the enemy and shall be liable on conviction to the punishment prescribed therefor by this Act: Provided that this subsection shall not apply where the person to whom the assignment, delivery or transfer was made, or some person deriving title under him, proves that the transfer, delivery or assignment or some subsequent transfer, delivery or assignment, was made before the commencement of this Act in good faith and for valuable consideration, nor shall this subsection apply to any bill of exchange or promissory note. (2) No person shall, by virtue of any transfer of a bill of exchange or promissory note made or to be made in his favour by or on behalf of an enemy, 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 and shall be liable on conviction to the punishment prescribed therefor by this 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 commencement of this Act in good faith and for valuable consideration. (3) Nothing in this section shall be construed as validating any assignment, delivery or transfer which would be invalid apart from this section or as applying to securities within the meaning of section fourteen of this Act. 13. Where during the continuance of the present war any coupon or other security transferable by delivery is presented for payment to any company, municipal or local authority, or other body or person, and the company, body or person has reason to believe 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 to the Custodian, and such a payment shall for all purposes be a good discharge to the company, body or person. Such sum shall, subject to rules of court, be dealt with according to orders of the court. 14. (1) Except with the consent of the Treasury, no transfer made after the commencement 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 or local authority or other body by whom the securities were issued or are managed shall, except as hereinafter appears, take any cognizance of or otherwise act upon any notice of such a transfer. (2) No entry shall hereafter, during the continuance of the present war, be made in any register or branch register or other book kept in the Union of any transfer of any securities therein registered, inscribed or standing in the name of an enemy, except by leave of the Treasury. (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 municipal or local authority or other body contravenes the provisions of this section it shall be liable, on conviction, to a fine not exceeding fifty pounds, and every director, manager, secretary or other officer of the company, authority, or body who is knowingly a party to the contravention, shall be liable on the like conviction to a like fine or to imprisonment for a period not exceeding six months, and, in default of payment of the fine, to a further period of imprisonment not exceeding six months. (5) For the purposes of this section the expression "securities" means any annuities, stock, shares, debentures, or debenture stock issued by or on behalf of the Government or by any municipal, local 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 Union. (6) The provisions of this section shall not apply to any transfers of shares or securities or the issue of share-warrants of companies incorporated in any part of the Union made either pursuant to orders of a court of the United Kingdom under any Acts of the Parliament in the United Kingdom relating to trading with the enemy or by or with the approval of the Board of Trade in the United Kingdom or of any supervisor or controller of enemy banks or other officer appointed by His Majesty's Government in the United Kingdom. 15. (1) During the continuance of the present war a certificate of incorporation of a company shall not be given by any officer charged by law with the duty of registering companies until there has been lodged with him either (a) a sworn declaration that the company is not formed for the purpose or with the intention of acquiring the whole or any part of the undertaking of a person, firm, partnership or company of enemy nationality or enemy association; or (b) a licence from the Treasury authorizing the acquisition by the company of such an undertaking. (2) Where such a declaration has been lodged, it shall not be lawful for the company, during the continuance of the present war, without the licence of the Treasury, to acquire the whole or any part of any such undertaking, and if it does so the company shall, without prejudice to any other liability, be liable on conviction to a fine not exceeding fifty 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 for a period not exceeding six months, and in default of payment of any such fine to a further period of imprisonment not exceeding six months. (3) Where on an application for the registration of a company it appears to the officer who would otherwise be charged by law with the duty of registering a company that any subscriber of the memorandum of association or any proposed director of the company is an enemy subject he shall inform the Treasury, and, if so instructed by the Treasury, refuse to register that company. (4) No allotment or transfer of any share, stock, debenture, or other security issued by a company made after the commencement of this Act to or for the benefit of an enemy subject shall, unless made with the consent of the Treasury, confer on the allottee or transferee any rights or remedies in respect thereof, and the company by which the security was issued shall not take any cognizance of or otherwise act upon any notice of any such transfer except by leave of the court or of the Treasury. If any company contravenes the provisions of this subsection the company shall be liable on conviction to a fine not exceeding fifty pounds, and every director, manager, secretary, or other officer of the company who is knowingly a party to the default shall be liable on conviction to a fine of a like amount or to imprisonment for a term not exceeding six months. 16. Where the Treasury certifies that it appears to it that a company registered in the Union is carrying on business, either directly or through an agent, branch or subsidiary company, outside the Union, and that in carrying on such business it has entered into or done acts which if entered into or done in the Union would constitute the offence of trading with the enemy, the Treasury may present a petition for the winding-up of the company by the court, and the issue of such a certificate shall be a ground on which the company may be wound up by the court, and the certificate shall, for the purposes of the petition, be evidence of the facts therein stated. 17. (1) If the benefit of an application made by or on behalf or for the benefit of an enemy or enemy subject for any letters patent is, by an order under this Act, vested in the Custodian, the patent may be granted to the Custodian as patentee and may, notwithstanding anything in the law relating to the grant of letters patent, be sealed accordingly by the Registrar of Patents. (2) The Governor-General may direct that any patent or licence to use a patent, which has been granted to an enemy or enemy subject or the registration of any design or trade-mark the proprietor whereof is an enemy or enemy subject, shall be avoided or suspended or that any proceedings on an application by an enemy or enemy subject for a patent, design or trade-mark or for an extension of the time within which any act or thing may be done by an enemy or enemy subject in connection with any patent, design or trade-mark shall be avoided or suspended. 18. Any restrictions imposed by any law or proclamation on dealings with enemy property shall continue to apply to property, particulars whereof are or are liable to be notified to the Custodian in pursuance of section seven of this Act not only during the continuance of the present war, but thereafter until such time as they may be removed by Order of His Majesty in Council or by proclamation of the Governor-General in the Gazette. The Governor-General may issue proclamations removing all or any of those restrictions either simultaneously as respects all such property or at different times as respects different classes of property. 19. The Custodian may charge such fees in respect of his duties under this Act, whether by way of percentage or otherwise as the Treasury may fix, and such fees shall be collected and accounted for by such persons in such manner and shall be paid to such account as the Treasury direct, and the incidence of the fees as between capital and income shall be determined by the Custodian. 20. (1) The Governor-General may by proclamation in the Gazette prohibit all persons or bodies of persons, incorporated or unincorporated, resident, carrying on business, or being in the Union, from trading with any persons or bodies of persons not resident or carrying on business in enemy territory or in territory in the occupation of the enemy (other than persons or bodies of persons, incorporated or unincorporated, residing or carrying on business solely within His Majesty's Dominions) wherever by reason of the enemy nationality or enemy association of such persons or bodies of persons, incorporated or unincorporated, it appears to him expedient so to do, and if any person acts in contravention of any such proclamation he shall be guilty of an offence and shall be liable on conviction to the penalties prescribed by section one of this Act for the offence of trading with the enemy, and the provisions of that section shall apply accordingly. (2) Any list of persons and bodies of persons, incorporated or unincorporated, with whom or with which such trading is prohibited by a proclamation under this section may from time to time be varied or added to by like proclamation in the Gazette. (3) The provisions of this Act shall, subject to such exceptions and adaptations (if any) as may be prescribed by proclamation of the GovernorGeneral in the Gazette, apply in respect of such persons and bodies of persons as aforesaid as if, for references therein to trading with the enemy, there were substituted references to trading with such persons and bodies of persons as aforesaid, and for references to enemies there were substituted references to such persons and bodies of persons as aforesaid. (4) For the purposes of this section a person shall be deemed to have traded with a person or body of persons to whom a proclamation issued under this section applies, if he enters into any transaction or does any act with, to, on behalf of, or for the benefit of, such a person or body of persons which, if entered into or done with, to, on behalf of, or for the benefit of an enemy, would be trading with the enemy. 21. Where in any proceedings under this Act any question arises(a) as to the existence of circumstances outside the Union; or (b) as to the existence of any circumstances and considerations arising out of the present war, a certificate under the hand of the Minister as to the existence of any such circumstances or considerations shall be evidence thereof. 22. The Chief Justice and judges of the Supreme Court may make rules as to the practice and procedure to be adopted for the purposes of those provisions of this Act in respect of which an order of the court is necessary. 23. In this Act, unless inconsistent with the context 'commencement of the present war" means as respects any enemy, |