Chapter 139
In short
This law amends the definition of "German enemy debt" within a previous ordinance, specifically concerning sums owed from certain German public securities.
What it regulates
- The definition of "German enemy debt" for the purposes of the Distribution of German Enemy Property Ordinance (Chapter 132).
- Sums due at the passing of the principal Ordinance in respect of specific German public securities.
- Bonds of the City of Saarbruecken 6 per cent. Sterling Loan of 1928.
- Bonds from various other listed German public security issues.
Who it concerns
- Individuals or entities affected by the definition of "German enemy debt" under the principal Ordinance.
- Holders of specific German public securities, including those from Saarbruecken, Berlin, Cologne, Dresden, Munich, Hamburg, Saxony, Westphalia, and the Prussian Electric Company.
Key points
- This Ordinance is to be read as one with the Distribution of German Enemy Property Ordinance (Chapter 132).
- The amendment to the definition of "German enemy debt" is deemed to have always been in effect since the enactment of the principal Ordinance.
- The amendment includes sums due from the City of Saarbruecken 6 per cent. Sterling Loan of 1928 bonds, provided they were enfaced according to the Supplementary Agreement for the Anglo-German Transfer Agreement of 1st July, 1938.
- It also includes sums due from bonds of the Potash Syndicate of Germany, City of Berlin, City of Cologne, City of Dresden, City of Munich, State of Hamburg, Hamburg Waterworks, The Free State of Saxony, Province of Westphalia, and Prussian Electric Company, as listed in the Schedule.
Legal text
DISTRIBUTION OF GERMAN ENEMY PROPERTY CHAPTER 139 DISTRIBUTION OF GERMAN ENEMY PROPERTY ORDINANCE To amend the definition of "German enemy debt" for the purposes of the Distribution of German Enemy Property Ordinance (Chapter 132), in relation to sums due at the passing of that Ordinance in respect of certain German public securities. (15th January, 1953) Enacted by ORDINANCE I of 1953. 1. This Ordinance may be cited as the Distribution of German Enemy Property Ordinance, and shall be construed as one with the Distribution of German Enemy Property Ordinance, hereinafter referred to as "the principal Ordinance." Short title. 2. The principal Ordinance shall have effect and shall be deemed always to have had effect as if the sums mentioned in paragraph (
- b)of the definition "German enemy debt" included any sum due on the enactment of that Ordinance - Amendment of definition of "German enemy debt". (
- a)in respect of any bond of the City of Saarbruecken 6 per cent. Sterling Loan of 1928, being a bond enfaced in accordance with the Supplementary Agreement for the execution of article 2 of the Anglo-German Transfer Agreement of the lst July, 1938; (
- b)in respect of any bond of any of the issues described in the Schedule in this Ordinance. SCHEDULE ISSUES Potash Syndicate of Germany 25 year Sinking Fund Gold Loan. City of Berlin 6 per cent. Sterling Loan, 1927. City of Cologne 6 per cent. Sterling Loan, 1928. City of Dresden 5½ per cent. Sterling Loan of 1927. City of Munich 6 per cent. Sterling Bonds. State of Hamburg 6 per cent. Sterling Loan of 1926. Hamburg Waterworks 6 per cent. Sterling Loan. The Free State of Saxony 6 per cent. 25 year Sterling Bonds of 1927. Province of Westphalia 7 per cent. Sterling Loan of 1926. Prussian Electric Company 6 per cent. 25 year Sterling Bonds.