1. The Free Territory of Trieste shall for all the purposes of the Act and for the purposes of any Order made thereunder cease to be treated as if it were enemy territory.

2. Notwithstanding anything contained in Section 1 of the Act any person may trade within the Free Territory of Trieste with any individual or body of persons (whether corporate or unincorporate) resident or carrying on business therein.

3. This Order shall come into force on the 3rd day of February, 1948.

4. This Order may be cited as the Trading with the Enemy (Enemy Territory Cessation) (Trieste) Order, 1948.

EXPLANATORY NOTE

1. An Order in Council dated the 28th September, 1944 (S. R. & O. 1944 No. 1123) made the whole of the Trading with the Enemy Act, 1939, and Orders made thereunder continue to apply to areas under enemy sovereignty at that date until the Board of Trade otherwise order.

2. Under paragraph 1 of the present Order, the Free Territory of Trieste ceases to be regarded as enemy territory for all purposes of the said Act and Orders. Paragraph 2 authorises trade, which includes financial, commercial and other transactions, with all individuals and bodies of persons resident or carrying on business in the Free Territory of Trieste.