§ LORD ADDISONMy Lords, may I ask His Majesty's Government whether they have any statement to make regarding the transfer to neutral ownership of enemy assets in Italy?
§ THE MINISTER OF ECONOMIC WARFARE (THE EARL OF SELBORNE)My Lords, it has come to the notice of His Majesty's Government in the United Kingdom and the Government of the United States of America that certain concerns in neutral countries are, in anticipation of the early occupation of Italy by Allied Forces, contemplating acquiring, or purporting to acquire, enemy-owned shares in Italian companies and other enemy assets in Italy. The two Governments reserve the right to treat as invalid any transfer to neutral ownership of any enemy-owned rights or interests in property in Italy. Nationals or firms in neutral countries, acquiring or purporting to acquire such rights or interests, lay themselves open to all sanctions at the 2 disposal of His Majesty's Government of the United Kingdom and of the Government of the United States.