For Pt.I, see ibid., vol.22, p.4271 (1989). The author constructs the dynamical symmetries of U(16), the algebra related to the quantization of classical reflection asymmetric shapes constructed from lambda P=0+, 1-, 2+, 3- multipoles. Generators, Casimir operators and their expectation values and branching rules are detailed for all dynamical symmetry limits, focusing primarily on those relevant to octupole deformations and vibrations. The resulting operators allow the construction of dynamical symmetry Hamiltonians.