ALIEN PROPERTY

Hokitika Guardian, 8 September 1939, Page 1

ALIEN PROPERTY

REGULATIONS GAZETTED

(Per Press Association.—Copyright).

WELLINGTON, Sept. 7. RegulaL’oiiS\goveruing the control of property owned by alien enemies were gazetted to-night. It is provided that the Pubiic Trustee shall, in his official and corporate capacity, act as the custodian of enemy property. The regulations provide that within 14 days every pierson who has the possession or management of any enemy property shall furnish full particulars to the Public Trustee. The particulars required include details of dividends and interest in respect of shares, stock, and debentures, interests held in any undertaking .firm, or partnership carrying on business in New Zealand, debts, bank deposits, and balances, and all other real and personal property. * The Attorney-General is authorised

to vest any enemy property, or any specified estate or interest in any property, in'the Custodian of Enemy Property. When an order lias been made for the transfer of property to the custodian,-it shall be the duty of the •concern involved to register the Publib Trustee as owner. All rents, dividends, interest, shares or profits, and other income from enemy property shall be paid to the custodian. Every person having in his possession or control any enemy property, such as share certificates, debentures, bonds, instruments, or mortgages or other securities, or titles to land, or any other property shiill, on demand, surrender them to the custodian. Money owing to an alien enemy or to any person acting on his behalf shall be deemed to be enemy property. Shares owned by or on behalf of an alien enemy in any company incorporated in New Zealand, or carrying on business in New Zealand, shall he deemed to be enemy property. A section of the regulations deals with the property of British-born women who have become aliens by virtue of marriage. Unless the Attorney-Gen-eral requires otherwise, certain of the regulations' do not apply in these cases.

. The Minister for Industries and Commerce' may, by warrant, appoint the Public Trustee as controller of the business of any person, firm, or company declared to be an enemy trader. The Public Trustee may be appointed as custodian of the property of any prisoner of war, either'by- the prisoner or by the Attorney-General. Out of any .money received by him as custodian; the Public Trustee shall discharge any debts or liabilities of the prisoner, and pay such sums as he considers reasonable for the maintenance of his wife and children. If the Public Trustee does not receive enough money to pay a .prisoner’s debts, he may sell any personal property of a prisoner of war for that purpose. Income received from the administration of enemy property shall be held by the Public Trustee in trust, and no disbursements shall be made to an enemy without the consent of the Attorney-General. The regulations prescribe a scale of fees for the Public Trustee for his services.