§ Mr. Skeetasked the Secretary of State for Trade and Industry whether he proposes to discontinue the collection of German and Japanese assets in this country under the provisions of the relevant 494W legislation and the orders made there under.
§ Sir G. HowePending consideration of legislation to repeal the relevant provisions of the German and Japanese enemy property legislation, I have directed the Administrators of German Enemy Property and Japanese Property and the Custodian of Enemy Property to cease the collection and sequestration of German and Japanese enemy assets in this country and to reassign their interests in such assets to the persons who would have been entitled to them but for the operation of the Acts.
I have also directed that German assets which are at present held by the administrator or custodian shall be returned to the persons entitled to them. But this would not apply to any assets which have already been paid into the Consolidated Fund.