May. 2.]

THE NEW ZEALAND GAZETTE.

Enemy Property, in trust to sell the same and to hold the same and
the income thereof and the proceeds of the sale thereof in trust for all
persons having any interest in such shares, income, or proceeds in
accordance with their respective interests; save and except that
where the shares were vested in any trustee with power of sale the
Public Trustee shall hold the same, and the proceeds and income
thereof, in trust for such trustee, without prejudice, however, to all
trusts and equities affecting the same in the hands of the trustee.

5. (1.) Every such New Zealand company, any shares in which
   are so vested in the Custodian of Enemy Property, shall forthwith,
   on the request of the Custodian, register the Public Trustee, in his
   capacity as Custodian of Enemy Property, as the owner of those
   shares, whether they are registered in New Zealand or in any other
   register of the company elsewhere.

(2.) Nothing in the regulations or constitution of any such com-
pany shall in any manner take away or restrict the obligation of the
company so to register the Public Trustee as the owner of the shares.

(3.) If any such New Zealand company makes default in so regis-
tering the Public Trustee as the owner of any shares, each director,
manager, or secretary of that company shall be guilty of an offence
against the War Regulations, and the company may be declared
by the Attorney-General to be an enemy in the same manner and with
the same consequences as if such declaration had been made under
clause 20 of the War Regulations of the 3rd day of April, 1916.

6. It shall be the duty of the Custodian of Enemy Property, as
   soon as reasonably practicable after the vesting in him of any such
   shares, to sell the same in such manner as he thinks fit; and on his
   executing a transfer thereof, in such form and manner as he thinks
   fit, to the purchaser, and requesting registration of the transfer, it
   shall be the duty of the company, notwithstanding anything to the
   contrary in the regulations or constitution of the company, to register
   the purchaser as the owner of the shares so transferred.

7. (1.) The proceeds of any such sale of shares by the Custodian
   of Enemy Property shall be disposed of in accordance with the trusts
   affecting the same in his hands, save that no moneys shall be paid by
   him to an enemy.

(2.) All moneys for the time being unexpended by the Custodian
shall be invested by him in accordance with the directions of the
Minister of Finance; and in default of such directions, then in the
common fund of the Public Trust Office, but so far as owing to an
enemy such moneys shall bear no interest.

8. The Custodian of Enemy Property shall pay out of the proceeds
   or income of any shares so vested in him all calls becoming payable
   on those shares, but shall not be otherwise liable for such calls.

9. So long as the Custodian of Enemy Property acts in good faith
   in the execution of the powers, duties, and trusts conferred or imposed
   upon him under these regulations, or under any other War Regula-
   tions, he shall be under no civil liability to any person whatever for
   any error, act, or default.

ENEMY COMPANIES IN NEW ZEALAND.

10. (1.) If the Attorney-General is satisfied, with respect to any
    company incorporated in New Zealand, that any enemy, or any enemy
    company, or any alien enemy (other than one who is also a natural-
    born British subject) possesses or exercises any substantial interest
    or control in or over that company, the Attorney-General may by
    notice in the Gazette declare such first-mentioned company to be an
    enemy.

(2.) Any such declaration may be at any time in like manner
revoked.

(3.) Every such declaration shall have with respect to the company
so declared to be an enemy the same effect as if the company had been
declared to be an enemy under clause 20 of the War Regulations of
the 3rd day of April, 1916.

(4.) The terms "enemy" and "enemy company" have the same
meaning as in clause 3 of the present regulations.

RETURN OF FOREIGN CORRESPONDENTS.

11. (1.) Every person, firm, or company carrying on business in
    New Zealand in respect of the purchase, sale, exportation, or im-
    portation of goods, and having any foreign correspondent or having