Trading with the Enemy Act 1914

The Trading with the Enemy Act 1914 was an Act of the Parliament of the United Kingdom that prescribed an offence of conducting business with any person of "enemy character". It was enacted soon after the United Kingdom became involved in World War I.

Trading with the Enemy Amendment Act 1916
Under the 1914 Act, ownership of enemy assets (unless the property was insignificant) had been put in trust and held by the Public Truste; business activities were monitored by the Board of Trade. The 1916 amendment required trustees to liquidate those holdings and hold the sale proceeds in trust for the enemy until the end of hostilities.