Prize Act, 1948. An Act to make provision as to the payment, and the distribution or application, of any prize money granted by His Majesty out of the proceeds of prize captured in the late war, as to payments and receipts in respect of proceeds of prize to or from the Government or a court of a part of His Majesty's dominions outside the United Kingdom, to extinguish for the future the prerogative rights to make grants of prize money to captors and to grant prize bounty, to authorise the payment into the Exchequer of certain unclaimed sums in prize courts, and for purposes connected with the matters aforesaid.