Page:British and Foreign State Papers, vol. 155 (1958).djvu/692

676 purposes of an undertaking nationalised on the basis of the present Decree will be transferred to State ownership together with the undertaking, even when they are owned by the former owner, a joint owner, a company member, shareholder or member of the Board of Directors of a joint-stock company, or by the spouse of any of the said persons, or by a relative of any of them in the ascending or descending line, or by a brother-in-law, or when they are in the possession of an undertaking in which the above-mentioned persons have an interest.

1. Claims against an undertaking nationalised under the present Decree arising under private contracts concluded prior to 1st September, 1949, will lapse upon the coming into force of the present Decree. Claims arising under private contracts concluded after the said date may only be enforced in cases where the counter-value of the claims served to augment the assets of the undertaking.

2. Valid claims against an undertaking nationalised under the present Decree due to the former owner, joint owner, company member, shareholder, director or auditor of the under taking, or to the spouse of any of the said persons, or to a relative in the ascending or descending line, or to a brother-in law, will lapse upon the coming into force of the present Decree.

3. A special Decree will introduce measures regulating claims arising from service.

Clause 9

1. In the event of a director or auditor, manager or senior official of a nationalised joint-stock company, or a shareholder of a joint-stock company, receiving after 1st September, 1949, in addition to the emoluments which were his legitimate due, any further sum from the undertaking, or participating in any allocation of capital value, when the undertaking owed public or private debts, he will be required to refund towards the undertaking's outstanding public or private debts the sum taken up by him or the equivalent of the allocation made to him.

2. In the case of the owner, joint owner, member, director, manager or senior official of a private firm, société en commandite or limited liability company, the obligation to refund mentioned in paragraph 1 also applies to withdrawals exceeding