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Section 7: Procedure for taking possession of certain moveable property

Enemy Property Rule, 2015Central Rules · 1968

(1) Where the vested property is a debt or a legacy or interest payable on a debt or a legacy, the Custodian may serve the party liable with a notice, requiring such party to pay such debt or legacy or interest payable on such debt or legacy to the Custodian or any other person authorised by him to receive the payment,

(2) Where the vested property is a share in a joint-stock company, not being a joint-stock company, possession may be taken by informing the principal officer of such company that the share has vested in the Custodian.

(3) Where the vested property consists of Government or other securities, stock, or debentures, possession may be taken by serving upon the appropriate authority notice requiring such authority to make all payments in respect of such securities, stock, or debentures to the Custodian or any other person authorised by him in this behalf.

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(4) Where the vested property is a running business or a share in such business, the Custodian may take possession of the stock-in-trade and other assets of the business and may further take such steps as he considers necessary either for the continuance of or for the winding up of such business,

Where this provision sits

ActEnemy Property Rule, 2015
Section7
Marginal noteProcedure for taking possession of certain moveable property
JurisdictionCentral
StatusIn force as published by the source

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