Under the Trading with the Enemy Act 1914 foreign ownership was transferred to UK's Public Trustee. Following a 1916 amendment to that act tenders were called for. The amendment required enemy assets to be sold and the proceeds held by the same trustee until the end of hostilities. Siemens Brothers and Company was bought by Messrs C Birch Crisp and Co on 14 December 1917. Financier Charles Birch Crisp was leading a consortium of investors who were not connected with the electrical engineering industry.