Explanatory note

Trade with persons in Japan has hitherto been permitted to a limited extent only. This Order authorises trade with such persons without restriction except in so far as concerns Japanese property and property rights in the United Kingdom at the date of this Order and property (which includes income) arising now or in future from such property. It further permits the transfer or allotment of securities, as defined, to individuals and bodies of persons in Japan. It revokes certain earlier Orders which authorised trade to a limited degree.