(February 25, 1942)

ARTICLE 1. On and after February 24, 1942, all public bodies, banks, corporations, companies, partnerships and other institutions of like nature, shall, in case they make payment of dividend, surplus, interest and/or repayment of bond, debentures, etc., to the nationals of hostile countries, deposit the total amount therefor with the designated banks in the name of the representative of such paying institutions.

The distribution of liquidated assets of dissolved or insolvent institutions shall also be governed in the same way as provided above.

ART. 2. Provided that there is no representative available nor any representative determinable, the Commander-in-Chief of the Imperial Japanese Forces in the Philippines shall designate such person or persons to represent the paying institution in accordance with the petition to be made by the parties concerned.

ART. 3. A statement duly signed by the representative of paying institutions showing the full particulars of individual payees of the money to be paid or dividend shall be attached to the applications of the deposit as provided in article 1.

ART. 4. In case those who are mentioned in the statement above referred to wish to withdraw their own portion from the deposit in the name of the representative of paying institutions, they shall apply for a license to the Commander-in-Chief of the Imperial Japanese Forces in the Philippines authorizing them to do so, the forms and procedures being identical with that of ordinary withdrawals of bank deposit except that the signature of the representative who made the deposit shall appear on the application form jointly with the applicant’s signature. Provided, however, the applicant has his own deposit account with any bank and wishes to transfer the money thereto, no prior permission shall be necessary but a report to that effect shall be filed with the Department of Military Administration of the Imperial Japanese Forces.

ART. 5. Whoever violates any of the above provisions shall be punished in accordance with the Military Laws—

In the case of corporate body: either the corporate body or its representative or person who actually violated the provisions or all of them;

In the case of individual: the offender.


ART. 1. In the above Military Ordinance, the term “the nationals of hostile countries” shall mean:

(a) Individual who has any of the following nationalities.

(b) Partnership, association, corporation or other commercial organization which has been organized under the laws of the following countries, or a substantial part of the capital of which is owned or controlled by hostile nationals or organizations as defined hereunder:

United States of America, United Kingdom, the Netherlands, Canada, Australia, New Zealand, Exiled Polish Government, Union of South Africa, Guatemala, Honduras, Nicaragua, Salvador, Haiti, Cuba, Costa Rica, Dominica, Panama, Mexico, Exiled Czech Government, Do Gaulle Government, Iran, Norway, Chungking Government.

In determining, among the above, the nationals of the exiled government of Poland, Czech, De Gaulle or Chungking Government, any one who has any of the above-mentioned nationalities and is suspected to be hostile, shall be prima facie presumed to be nationals of the hostile countries.

ART. 2. The above Military Ordinance shall be put into effect within the limit of the City of Greater Manila for the time being.

The designated banks in the City of Greater Manila are two banks as follows:

The Bank of Taiwan, Ltd.

The Yokohama Specie Bank, Ltd.


Source: Office of the Solicitor General Library