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Forfeiture of Assets (Messrs Davis of America, etc.) Act 1975

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Arrangement of Sections

1. FORFEITURE OF ASSETS (MESSRS DAVIS OF AMERICA, ETC.) ACT

2. Any person who holds any of the properties referred to in subsection (2) or (3) of section

3. (1) Where any property to which this Act relates is immovable property or is a registrable

4. Any person who in intended compliance with this Act deals with any of the properties affec

5. Any person who contravenes or fails to comply with any of the provisions of section 2 or 3

6. This Act may be cited as the Forfeiture of Assets (Messrs Davis of America, etc.) Act. Sho

FORFEITURE OF ASSETS (MESSRS DAVIS OF AMERICA, ETC.) ACT

1975

An Act to provide for the dissolution of three companies in which Mr Solomon Nagaty or Davis of America had interest and the forfeiture of their properties and to vest such properties in the Federal Government.

[29th September, 1975]

[Commencement.]

FORFEITURE OF ASSETS (MESSRS DAVIS OF AMERICA, ETC.) ACT

1. (1) The companies known as Western Textile Industries Companies Limited, Zaria, Textile Mills Limited and Mid-West-Purpose Industries Limited are hereby dissolved.

(2) The properties set out in the Schedule to this Act being properties held by or on behalf of the companies mentioned in subsection (1) of this section or held by Messrs Davis of America or by or on behalf of one Solomon Nagaty are hereby forfeited to the Federal Government and shall vest in that Government free of all encumbrances without any further assurance apart from this Act.
(3) All other properties (whether movable or immovable) and rights in or of the companies, or held in or on behalf of any of the companies by any member, director or other officer of any of the companies or held by any person on behalf of any such member, director or other officer, are hereby forfeited to the Federal Government and shall vest in that Government free of all encumbrances without any further assurance apart from this Act. Dissolution of certain companies, etc. and forfeiture of assets.

2. Any person who holds any of the properties referred to in subsection (2) or (3) of section 1 of this Act shall within 14 days of the making of this Act or, where the property comes into his possession after the making of this Act, within 14 days after the property comes into his possession, deliver such property to the Secretary to the Federal Government or notify him in writing of the place where the property may be recovered and, in the latter case, shall take all other steps as the Secretary to the Federal Government may require in the recovery of such property. Delivering of forfeited properties, etc.

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