1.  Notwithstanding anything contained in Section 1 of the Act, any person, unless the Board of Trade otherwise direct, may trade except as provided in Articles 3 and 4 hereof with any person to whom this Order applies.

(i) 2.  The transfer by or on behalf of any person within the description contained in Article 5 of this Order of any annuities, stocks, shares, bonds, debentures or debenture stock registered or inscribed in any register, branch register or other book kept in the United Kingdom which, on or after the date of this Order, come into the ownership of any such person as aforesaid, is hereby sanctioned.

(ii) The Board of Trade hereby consent to the allotment or transfer of any securities as defined in paragraph (i) of this Article to or for the benefit of any individual who is an enemy subject resident in Japan or any body of persons constituted or incorporated in, or under the laws of Japan.

3.  As regards any property situate in the United Kingdom belonging to or held or managed at the date of this Order on behalf of any person to whom this Order applies and as regards any property arising presently or at any future time out of such property this Licence shall not, except in the case of anything done under an authority, given generally or specially by, or by any person authorised in that behalf by, a Secretary of State, the Treasury or the Board of Trade, extend to or authorise any trade in respect thereof.

4.  This Licence shall not, except in the case of anything done under an authority, given generally or specially by, or by any person authorised in that behalf by, a Secretary of State, the Treasury or the Board of Trade, extend to or authorise any trade in respect of any contract entered into before the date of this Order.

5.  This Order applies

(i) to any Government, public or other authority in Japan.

(ii) to any individual resident in Japan.

(iii) as respects any business carried on in Japan, to any individual or body of persons (whether corporate or unincorporate) carrying on that business.

6.  For the purposes of this Order (i) “ property” means real or personal property, and includes any estate or interest in real or personal property, any negotiable instrument, debt or other chose in action, and any other right or interest whether in possession or not, and (ii) “Japan” means all territory which was under Japanese sovereignty on the 7th December, 1941.

7.  The Orders specified in the Schedule hereto are hereby revoked.

8.—(1) This Order may be cited as the Trading with the Enemy (Authorisation) (Japan) Order, 1950.

(2) The Interpretation Act, 1889 shall apply to the interpretation of this Order as it applies to the interpretation of an Act of Parliament.

H. S. Gregory

A Secretary of the Board of Trade

Dated this 6th day of January, 1950