Five-Power Naval Treaty (Washington) — SecIV

PROPERTY, RIGHTS AND INTERESTS.

The question of private property, rights and interests in an enemy country shall be settled according.

to the principles laid down in this Section and to the provisions of the Annex hereto.

(a) The exceptional war measures and measures of transfer (defined in paragraph 3 of the Annex.

hereto) taken by Bulgaria with respect to the property, rights and interests of nationals of Allied or.

Associated Powers, including companies and associations in which they are interested, when.

liquidation has not been completed, shall be immediately discontinued or stayed and the property,.

rights and interests concerned restored to their owners, who shall enjoy full rights therein in.

accordance with the provisions of Article 178. The Bulgarian Government will revoke all legislative.

or administrative provisions which it may have made during the war forbidding companies of Allied.

and Associated na-tionality or companies in which Allied or Associated nationals are interested to.

enjoy the benefit of concessions or contracts in Bulgaria.

(b) Subject to any contrary stipulations which may be provided for in the present Treaty, the Allied.

and Associated Powers reserve the right to retain and liquidate all property, rights and interests.

belonging at the date of the coming into force of the present Treaty to Bulgarian nationals, or.

companies controlled by them, within their territories, colonies, possessions and protectorates,.

including territories ceded to them by the present Treaty.

The liquidation shall be carried out in accordance with the laws of the Allied or Associated State.

concerned, and the Bulgarian owner shall not be able to dispose of such property, rights and.

interests nor to subject them to any charge without the consent of that State.

Bulgarian nationals who acquire ipso facto the nationality of an Allied or Associated Power in.

accordance with the provisions of the present Treaty will not be considered as Bulgarian na- tionals.

within the meaning of this paragraph.

(c) The price or the amount of compensation in respect of the exercise of the right referred to in.

paragraph (b) will be fixed in accordance with the methods of sale or valuation adopted by the laws.

of the country in which the property has been retained or liquidated.

(d) As between the Allied and Associated Powers or their nationals on the one hand and Bulgaria or.

her nationals on the other hand, all the exceptional war measures, or measures of transfer, put into.

operation by the Allied and Associated Powers, or acts done or to be done in execution of such.

measures as defined in paragraphs 1 and 3 of the Annex hereto, shall be considered as final and.

binding upon all persons except as regards the reservations laid down in the present Treaty. If,.

however, in the States referred to in paragraph (i) of this Article measures prejudicial to the.

property, rights and interests of Bulgarian nationals and not in accordance with the local law have.

been taken, the Bulgarian proprietor shall be entitled to compensation for the damage caused to him.

This compensation shall be fixed by the Mixed Arbitral Tribunal provided by Section VI. The same.

measures and all others affecting the property, rights and interests of nationals of the Allied and.

Associated Powers -- notably acts of requisition or seizure, wheresoever effected, by the civil or.

military authorities, the troops or the population of Bulgaria, or effected in Bulgaria by the civil or.

military authorities or the troops of the Powers allied with Bulgaria -- are all declared void, and the.

Bulgarian Government will take all measures necessary for the restoration of such property, rights.

(e) The nationals of Alled and Associated Powers shall be entitled to compensation in respect of.

damage or injury inflicted upon their property, rights or interests, including any company or.

association in which they are interested, in Bulgarian territory as it existed on September 20, 1915,.

by the application either of the exceptional war measures or measures of transfer mentioned in.

paragraphs 1 and 3 of the Annex hereto. The claims made in this respect by such nationals shall be.

investigated, and the total of the compensation shall be determined by the Mixed Arbitral Tribunal.

provided for in Section VI, or by an arbitrator appointed by that Tribunal. This compensation shall.

be borne by Bulgaria, and may be charged upon the property of Bulgarian nationals within the.

territory or under the control of the claimant's State This property may be constituted as a pledge for.

enemy liabilities under the conditions fixed by paragraph 4 of the Annex hereto The payment of this.

compensation may be made by the Allied or Associated State, and the amount will be debited to.

( f) Whenever a national of an Allied or Associated Power is entitled to property which has been.

subjected to a measure of transfer in Bulgarian territory and expresses a desire for its restitution, his.

claim for compensation in accordance with paragarph (e) shall be satisfied by the restitution of the.

said property if it still exists in specie.

In such case Bulgaria shall take all necessary steps to restore the evicted owner to the possession of.

his property, free from all encumbrances or burdens with which if may have been charged after the.

liquidation, and to indemnify all third parties injured by the restitution.

If the restition provided for in this paragraph cannot be effected, private agreements aranged by the.

intermediation of the Powers concerned or the Clearing Offices provided for in the Annex to Section.

III may be made, in order to secure that the national of the Allied or Associated Power may secure.

compensation for the injury referred to in paragraph (e) by the grant of advantages or equivalents.

which he agrees to accept in place of the property, rights or interests of which he was deprived.

Through restitution in accordance with this Article, the price or the amount of compensation fixed.

by the application of paragraph (e) will be reduced by the actual value of the property restored,.

account being taken of compensation in respect of loss of use or deterioration.

(g) The rights conferred by paragraph (f) are reserved to owners who are nationals of Alled or.

Associated Powers within whose territory legislative measures prescribing the general liquidation of.

enemy property, rights or interests were not applied before the signature of the Armistice.

(h) Except in cases where, by applicatbn of paragraph (f) restitutions in specie have been made, the.

net proceeds of sales of enemy property, rights or interests, wherever situated, carried out either by.

virtue of war legislation, or by application of this Article, and in general all cash assets of enemies,.

shall be dealt with as follows;

(1) As regards Powers adopting Section III and the Annex thereto, the said proceeds and cash.

assets shall be credited to the Power of which the owner is a national, through the Clearing Office.

established thereunder; any credit balance in favour of Bulgaria resulting therefrom shall be dealt.

with as provided in Article 129, Part VII (Reparation), of the present Treaty.

(2) As regards Powers not adopting Section III and the Annex thereto, the proceeds of the property,.

rights and interests, and the cash assets, of the nationals of Allied or Associated Powers held by.

Bulgaria shall be paid immediately to the person entitled thereto or to his Government; the proceeds.

of the property, rights and interests, and the cash assets, of Bulgarian nationals received by an.

Allied or Associated Power shall be subject to disposal by such Power in accordance with its laws.

and regulations, and may be applied in payment of the claims and debts defined by this Article or.

paragraph 4 of the Annex hereto. Any property, rights and interests or proceds thereof or cash.

assets not used as above provided may be retained by the said Allied and Associated Power, and if.

retained the cash value theref shall be dealt with as provided in Article 129, Part VII (Reparation),.

(i) In the case of liquidations effected in new States which are signatories of the present Treaty as.

Allied and Associated Powers or in States to which Bulgarian territory is transferred by the present.

Treaty, or in States which are not entitled to share in the reparation payments to be made by.

Bulgaria, the proceeds of liquidations effected by such States shall, subject to the rights of the.

Reparation Commission under the present Treaty, particularly under Article 121, Part VII.

(Reparation), of the present Treaty, be paid direct to the owner. If, on the application of that owner,.

the Mixed Arbitral Tribunal provided for by Section VI of this Part, or an arbitrator appointed by.

that Tribunal, is satisfied that the eonditions of the sale or measures taken by the Government of the.

State in question outside its general legislation were unfairly prejudicial to the price obtained, the.

Tribunal or arbitrator shall have discretion to award to the owner equitable compensation to be paid.

(j) Bulgaria undertakes to compensate her nationals in respect of the sale or retention of their.

property, rights or interests in Allied or Associated States. (k) The amount of all taxes and imposts.

upon capital levied or to be levied by Bulgaria on the property, rights and interests of the nationals.

of the Allied or Associated Powers from September 29, 1918, until three months from the coming.

into force of the present Treaty, or, in the case of property, rights and interests which have been.

subjected to exceptional measures of war, until restitution in accordance with the present Treaty,.

shall be restored to the owners.

Bulgaria undertakes, with regard to the property, rights and interests, including companies and.

associations in which they were interested, restored to nationals of Allied and Associated Powers in.

accordance with the provisions of Article 177:

(a) To restore and maintain, except as expressly provided in the present Treaty, the property, rights.

and interests of the nationals of Allied or Associated Powers in the legal position obtaining in.

respect of the property, rights and interests of Bulgarian nationals under the laws in force before the.

(b) Not to subject the property, rights or interests of the nationals of the Allied or Associated.

Powers to any measures in derogation of property rights which are not applied equally to the.

property, rights and interests of Bulgarian nationals, and to pay adequate compensation in the event.

of the application of these measures.

Diplomatic or consular claims made before the war by the Representatives or Agents of the Allied.

and Associated Powers with regard to the private property, rights or interests of nationals of those.

Powers shall, on the application of the Power concerned, be siubmitted to the Mixed Arbitral.

Tribunal provided for in Section Vl.

In accordance with the provisions of Article 177, paragraph (d), the validity of vesting orders and.

of orders for the winding up of businesses or companies, and of any other orders, directions,.

decisions or instructions of any court or any department of the Government of any of the Allied and.

Associated Powers made or given, or purporting to be made or given, in pursuance of war.

legislation with regard to enemy property, rights and interests is confirmed. The interests of all.

persons shall be regarded as having been effectively dealt with by any order, direction, decision or.

instruction dealing with property in which they may be interested, whether or not such interests are.

specifically mentioned in the order, direction, decision or instruction. No question shall be raised as.

to the regularity of a transfer of any property, rights or interests dealt with in pursuance of any such.

order, direction, decision or instruction. Every action taken with regard to any property, business or.

company, whether as regards its investigation, sequestration, compulsory administration, use,.

requisition, supervision, or winding up, the sale or management of property, rights or interests, the.

collection or discharge of debts, the payment of costs, charges or expenses, or any other matter.

whatsoever, in pursuance of orders, directions, decisions or instructions of any court or of any.

department of the Government of any of the Allied and Associated Powers, made or given, or.

purporting to be made or given, in pursuance of war legislation with regard to enemy property,.

rights or interests, is confirmed. Provided that the provisions of this paragraph shall not be held to.

prejudice the titles to property heretofore acquired in good faith and for value and in accordance.

with the laws of the country in which the property is situated by nationals of the Allied and.

No claim or action shall be made or brought against any Allied or Associated Power or against any.

person acting on behalf of or under the direction of any legal authority or department of the.

Government of such a Power by Bulgaria or by any Bulgarian national wherever resident in respect.

of any act or omission with regard to his property, rights, or interests during the war or in.

preparation for the war. Similarly, no claim or action shall be made or brought against any person in.

respect of any act or omission under or in accordance with the exceptional war measures laws or.

regulations of any Allied or Associated Power.

In Article I77 and this Annex the expression "exceptional war measures" includes measures of all.

kinds, legislative, administrative, judicial or others, that have been taken-or will be taken hereafter.

with regard to enemy property, and which have had or will have the effect of removing from the.

proprietors the power of disposition over their property, though without affecting the ownership,.

such as measures of supervision, of compulsory administration, and of sequestration; or measures.

which have had or will have as an object the seizure of, the use of, or the interference with enemy.

assets, for whatsoever motive, under whatsoever form or in whatsoever place. Acts in the execution.

of these measures include all detentions, instructions, orders or decrees of Government departments.

or courts applying these measures to enemy property, as well as acts performed by any person.

connected with the administration or the supervision of enemy property, such as the payment of.

debts, the collection of credits, the payment of any costs, charges or expenses, or the collecting of.

Measures of transfer are those which have affected or will affect the ownership of enemy property.

by transferring it in whole or in part to a person other than the enemy owner, and without his.

consent, such as measures directing the sale, liquidation or devolution of ownership in enemy.

property, or the cancelling of titles or securities.

All property, rights and interests of Bulgarian nationals within the territory of any Allied or.

Associated Power and the net proceeds of their sale, liquidation or other dealing therewith may be.

charged by that Allied or Associated Power in the first place with payment of amounts due in.

respect of claims by the nationals of that Allied or Associated Power with regard to their property,.

rights and interests, including companies and associations in which they are interested, in Bulgarian.

territory, or debts owing to them by Bulgarian nationals, and with payment of claims growing out.

of acts committed by the Bulgarian Government or by any Bulgarian authorities since October 11,.

1915, and before that Allied or Associated Power entered into the war. The amount of such claims.

may be assessed by an arbitrator appointed by M. Gustav Ador, if he is willing, or if no such.

appointment is made by him, by an arbitrator appointed by the Mixed Arbitral Tribunal provided for.

in Section Vl. They may be charged in the second place with payment of the amounts due in respect.

of claims by the nationals of such Allied or Associated Power with regard to their property, rights.

and interests in the territory of other enemy Powers, in so far as those claims are otherwise.

Notwithstanding the provisions of Article 177, where immediately before the outbreak of war a.

company incorporated in an Allied or Associated State had rights in common with a company.

controlled by it and incorporated in Bulgaria to the use of trade-marks in third countries, or enjoyed.

the use in common with such company of unique means of reproduction of goods or articles for.

sale in third countries, the former company shall alone have the right to use these trade-marks in.

third countries to the exclusion of the Bulgarian company, and these unique means of reproduction.

shall be handed over to the former company, notwithstanding any action taken under Bulgarian war.

legislation with regard to the latter company or its business, industrial property or shares.

Nevertheless, the former company, if requested, shall deliver to the latter company derivative copies.

permitting the continuation of reproduction of articles for use within Bulgarian territory.

Up to the time when restitution is carried out in accordance with Article 177, Bulgaria is responsible.

for the conservation of property, rights and interests of the nationals of Allied or Associated.

Powers, including companies and associations in which they are interested, that have been.

subjected by her to exceptional war measures.

Within one year from the coming into force of the present Treaty the Allied or Associate effective.

legislation in accordan rights and interests over which they intend to exercise the right provided in.

Article 177, paragraph (f)

The restitution provided in Article 177 will be carried out by order of the Bulgarian C,overnment or.

of the authorities which have been substituted for it. Detailed accounts of the action of.

administrators shall be furnished to the interested persons by the Bulgarian authorities upon request,.

which may be made at any time after the coming into force of the present Treaty.

Until completion of the liquidation provided by Article 177 paragraph (b), the property, rights, and.

interests of Bulgarian nationals will continue to be subject to exceptional war measures that have.

been or will be taken with regard to them.

Bulgaria will, within six months of the coming into force of the present Treaty, deliver to each.

Allied or Associated Power all securities, certificates, deeds or other documents of title held by its.

nationals and relating to property, rights or interests situated in the territory of that Allied or.

Associated Power, including any shares, stock, debentures, debenture stock or other obligations of.

any company incorporated in accordance with the laws of that Power.

Bulgaria will at any time on demand of any Allied or Associated Power furnish such information as.

may be required with regard to the property, rights and interests of Bulgarian nationals within the.

territory of such Allied or Associated Power, or with regard to any transactions concerning such.

property, rights or interests effected since September 1, 1915.

The expression "cash assets" includes all deposits or funds established before or after the existence.

of a state of war, as well as all assets coming from deposits, revenues or profits collected by.

administrators, sequestrators or others from funds placed on deposit or otherwise, but does not.

include sums belonging to the Allied or Associated Powers or to their component States, Provinces.

All investments wheresoever effected with the cash assets of nationals of the High Contracting.

Parties, including companies and associations in which such nationals were interested, by persons.

responsible for the administration of enemy properties or having control over such administration,.

or by order of such persons or of any authority whatsoever, shall be annulled. These cash assets.

shall be accounted for irrespective of any such investment.

Within one month from the coming into force of the present Treaty, or on demand at any time,.

Bulgaria will deliver to the Allied and Associated Powers all accounts, vouchers, records,.

documents and information of any kind which may be within Bulgarian territory, and which.

concern the property, rights and interests of the nationals of those Powers, including companies and.

associations in which they are interested, that have been subjected to an exceptional war measure, or.

to a measure of transfer either in Bulgarian territory or in territory occupied by Bulgaria or her.

The controllers, supervisors, managers, administrators, sequestrators, liquidators and receivers,.

shall be personally responsible under guarantee of the Bulgarian Government for the immediate.

delivery in full of these accounts and documents, and for their accuracy.

The provisions of Article 177 and this Annex relating to property, rights and interests in an enemy.

country, and the proceeds of the liquidation thereof, apply to debts, credits and accounts, Section.

III regulating only the method of payment.

In the settlement of matters provided for in Article 177 between Bulgaria and the Allied or.

Associated States, their colonies or protectorates, or any one of the British Dominions or India, in.

respect of any of which a declaration shall not have been made that they adopt Section III, and.

between their respective nationals, the provisions of Section III respecting the currency in which.

payment is to be made and the rate of exchange and of interest shall apply unless the Government of.

the Allied or Associated Power concerned shall, within six months of the coming into force of the.

present Treaty, notify Bulgaria that one or more of the said provisions are not to be applied.

The provisions of Article 177 and this Annex apply to industrial, literary and artistic property which.

has been or will be dealt with in the liquidation of property, rights, interests, companies or.

businesses under war legislation by the Allied or Associated Powers, or in accordance with the.

stipulations of Article 177, paragraph (b)