Section Text
(1) With respect to the property vested in the Custodian under this Act, the Custodian may take or authorise the taking of such measures as he considers necessary or expedient for preserving such property and where such property belongs to an individual enemy subject, may incur such expenditure out of the property as he considers necessary or expedient for the maintenance of that individual or of his family in India.
(2) Without prejudice to the generality of the foregoing provision, the Custodian or such person as may be specifically authorised by him in his behalf, may for the said purpose,--
(i) carry on the business of the enemy ;
(ii) take action for recovering any money due to the enemy ;
(iii) make any contract and execute any document in the name and on behalf of the enemy ;
(iv) institute, defend or continue any suit or other legal proceeding, refer any dispute to arbitration and compromise any debts, claims or liabilities ;
(v) raise on the security of the property such loans as may be necessary ;
(vi) incur out of the property any expenditure including the payment of any taxes, duties, cesses and rates to Government or to any local authority and of any wages, salaries, pensions, provident fund contributions to, or in respect of, any employee of the enemy and the repayment of any debts due by the enemy to persons other than enemies ;
(vii) transfer by way of sale, mortgage or lease or otherwise dispose of any of the properties ;
(viii) invest any moneys held by him on behalf of enemies for the purchase of Treasury Bills or such other Government securities as may be approved by the Central Government for the purpose ;
(ix) make payments to the enemy and his dependents ;
(x) make payments on behalf of the enemy to persons other than those who are enemies, of dues outstanding on the 25th October, 1962 ;1[or on the 3rd December, 1971] and
(xi) make such other payments out of the funds of the enemy as may be directed by the Central Government.
Explanation.-- In this sub - section and in sections 10 and 17, "enemy" includes an enemy subject and an enemy firm.
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1. Inserted by the Enemy Property (Amendment) Act, 1977, w.e.f. 27-09-1977.