New regulations governing the transfer of Chinese-owned coal in Pootung to foreign ownership were announced on Monday by the Japanese authorities here, the "Shangha Nippo" reported yesterday.
Chinese coal-owners who had sold their coal to foreigners after August 13, 1937, but had not completed the legal procedure nor had yet received payment will be required to cancel the transaction.
Notification of the cancellation must be reported to the Japanese consular, military and naval authorities. Persons complying with this requirement will be given "preferential treatment" by the, authorities, the daily said.
Chinese owners who sell coal or transfer ownership to foreigners will be required to notify the Japanese authorities, on fear of a penalty.
Full respect, the Statement said, will be paid to property ownership in the Japanese controlled area, irrespective of the owners' nationality.
Coal already requisitioned by the Japanese authorities or taken in the future will be paid for in full, the statement said.
An investigation is now in progress to determine the ownership of coal requisitioned by the Japanese.
Text read from the printed page and cleaned; old type leaves the occasional error.