§ (1) No person shall by virtue of any assignment of any debt or other chose in action, or delivery of any coupon or other security transferable by delivery, or transfer of any other obligation, made or to be made in his favour by or on behalf of an enemy, whether for valuable consideration or otherwise, have any rights or remedies against the person liable to pay discharge or satisfy the debt, chose in action, security or obligation, unless he proves that the assignment, delivery, or transfer was made by leave of the Board 1473 of Trade or was made before the commencement of the present War, and any person who knowingly pays discharges or satisfies any debt, or chose in action so assigned, or any security so delivered, or any obligation so transferred after the said date, shall be deemed to be guilty of the offence of trading with the enemy within the meaning of the principal Act:
§ Provided that this Sub-section shall not apply where the person to whom the assignment, delivery, or transfer was made, or some person deriving title under him, proves that the transfer, delivery, or assignment, or some subsequent transfer, delivery or assignment, was made before the nineteenth day of November, nineteen hundred and fourteen, in good faith and for valuable consideration.
§ Amendments made: Leave out the words "so assigned, or any security so delivered, or any obligation so transferred after the said date," and insert the words "to which this Sub-section applies."
§ At end of Sub-section insert the words "nor shall this Sub-section apply to any negotiable instrument."—[Sir J. Simon.]