((a)) ** In general** Subject to the provisions of subsection (b) hereof, all rights and interests of individuals in estates, trusts, insurance policies, annuities, remainders, pensions, workmen’s compensation and veterans’ benefits vested under this chapter after , which have not become payable or deliverable to or have not vested in possession in the Attorney General prior to , are divested: , That the provisions of this section shall not affect the right of the Attorney General to retain all such property rights and interests and to collect all income which is payable to or vested in possession in him prior to .December 17, 19411941-12-17December 31, 19611961-12-31December 31, 19611961-12-31Provided
((b)) ** Exception to requirement where beneficial owner convicted of certain crimes** Nothing contained in this section shall divest or require the divestment of any portion of any such interest the beneficial owner of which is a natural person who has been convicted personally and by name by a court of competent jurisdiction of murder, ill treatment, or deportation for slave labor of prisoners of war, political opponents, hostages, or civilian population in occupied territories, or of murder or ill treatment of military or naval persons, or of plunder or wanton destruction without justified military necessity.
((c)) ** Notice of divestment** At the earliest practicable time after the effective date of this Act, the Attorney General shall transmit to the lawful owner or custodian of any interest divested by this section written notice of such divestment.