Page:United States Statutes at Large Volume 45 Part 1.djvu/324

 SEVENTIETH CONGRESS. SESS. I. CH.167. 1928 . Custodian or seizure by him) and that the written consent provided for in subsection (m) has been filed, then the President may make in respect of such property an order of the same character, upon the same conditions, and with the same effect, as in cases provided for in subsection (b), including the benefits of subsection (c) . "(o) The provisions of paragraph (12), (13), (14), (17), (18), (19), (20), (21), or (22) of subsection (b), or of subsection (m) or (n) of this section, and (except to the extent therein provided) the pr ovisi ons of pa ragra ph (16) of subse ction (b), shall not be con- st rued as d imini shing or e xtin guish ing a ny r ight under any othe r provision of this Act in force immediately prior to the enactment of the Settlement of War Claims Act of 1928 . "(p) The Alien Property Custodian shall transfer the money or other property in the trust of any partnership, association, or other un incorp orated body of ind ividua ls, or corpor ation, the e xisten ce of which has terminated, to trusts in the names of the persons (includ- ing the German Government and members of the former ruling family) who have succeeded to its claim or interest ; and the provi- si ons of su bsection (a) of th is sectio n relati ng to the collecti on of a debt (by order of the President or of a court) out of money or other property held by the Alien Property Custodian or the Treasurer of th e Unit ed Sta tes sh all be appli cable to the debts of suc h succ essor and any such debt may be collected out of the money or other prop- er ty in any of such trusts if no t retu rnable under subsec tion ( a) of this section. Subject to the above provisions as to the collection of debts, each such successor (except the German Government and inembers of the former ruling family) may proceed for the return of the amount so transferred to his trust, in the same manner as such partnership, association, or other unincorporated body of individuals, or corporation might proceed if still in existence. If such partner- ship, association, or other unincorporated body of individuals, or corpora tion, would have b een en titled to the retur n of i ts mon ey or other p ropert y only upon filing the w ritten consen t prov ided f or in subsection (m), then the successor shall be entitled to the return under this subsection only upon filing such written consent. "(The return of money or other property under paragraph (1 5), (17)7)(18), (19), (20 ), (21), or (22) of sub sectio n (b) (relat ing to the ret urn to Austr ian an d Hung arian nationa ls) sh all be subje ct to the limitations imposed by subsections (d) and (e) of section 7 of the Settlement of War Claims Act of 1928 ." SEC. 15. The Trading with the Enemy Act, as amended, is amended by adding thereto the following new sections "SEC . 26. (a) The Alien Property Custodian shall allocate among the various trusts the funds in the `unallocated interest fund' (as defined in section 28) . Such allocation shall be based upon the aver- age rate of earnings (determined by the Secretary of the Treasury) on the total amount s depo sited under section 1 2 . "(b) The Alien Property Custodian, when the allocation has been made, is authorized and directed to pay to each person entitled, in accordance with a final decision of a court of the United States or of the District of Columbia, or of an opinion of the Attorney Gen- eral, to the distribution of any portion of such unallocated interest fund, the amount allocated to his trust, except as provided in subsec tion ( c) of this s ection. "(c) In the case o f pers ons en titled, unde r parag raph (12 ), (1 3), (14), or (16) of subsection (b) of section 9, to such return, and in the case of persons who would be entitled to such return thereunder if all such money or property had not been returned under paragraph (9) or (10) of such s ubsection , and in the case of perso ns entitl ed to suc h 273 Co nsen t to 20 per cent temporary reduc- tion, to be filed . Transfers to Ger - mans , Austrians, and Hungarians not to di- minish prior rights. Transfer in trust, in name of successor in in- terest of claim . Applicable to debts of successor . Provisions fot re- turns by successor . Limitation, if 2D per cent temporary reduc- tio n required . Returns to Austrians and Hungaria ns, lim- ited to special deposits provisions . Ante, p . 265 . New sections . Unallocated interest fund to be a llocated among the trus ts . Basis of. Ante, p. 271. Payments to persons entitled by decision of a court, etc. Amount allocated to Germ ans, etc., to be cre dit ed ag ain st in- terest-bearing partici- pating certificate.

�