Validity of transfers respecting property subsequently declared to be evacuee property

(1) No transfer made after the relevant date by or on behalf of any person in any manner whatsoever of any property belonging to him shall be effective so as to confer any rights or remedies in respect of the transfer on the parties thereto or any person claiming under them of either of them if, at any time after the transfer, the transferor becomes an evacuee within the meaning of section 2 or the property of the transferor is declared or notified to be evacuee property within the meaning of this Act, unless the transfer is confirmed by the Custodian in accordance with the provisions of this Act. (2) An application under sub-section (1) for the confirmation of any transfer may be made by the transferor or the transferee or any person claiming under, or lawfully authorised by, either of them to the Custodian within two months from the date of the transfer or within, two months from the date of the declaration or notification referred to in sub-section (1) whichever is later. (3) Where an application under sub-section (1) has been made to the Custodian for confirmation, he shall hold an inquiry thereof in the prescribed manner and may reject the application if he is of opinion that— (a) the transaction has not been entered into in good faith or for valuable consideration; or (b) the transaction is prohibited under any law for the time being in force; or (c) the transaction ought not to be confirmed for any other reason.