2

There shall be excepted from the vesting to be effected by this Order—

a

any estate or interest in land,

b

any property which has come into the ownership of any persons by reason of any trade authorised generally or specially by or by any person authorised in that behalf by a Secretary of State, the Treasury or the Board of Trade,

c

any property which at any time after the 2nd day of February, 1948, has come into the ownership of any individual who, not being either a British subject or a British protected person, possesses Japanese nationality and is resident in Bulgaria, Hungary, Roumania, or Italy,

d

any property in respect of which any licence, consent or authority has been given under the Act or any Order made thereunder, and

e

any right or interest the vesting of which in the Custodian would cause forfeiture or determination of such right or interest.