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THE HONG KONG GOVERNMENT GAZETTE, SEPTEMBER 6, 1935.
Conversion by trustee.
6. & 7 Geo, 5,
(6) having either solely or jointly with any other person received any property for or on account of any other person; fraudulently converts to his own use or benefit, or the use or benefit of any other person, the property or any part thereof or any proceeds thereof;
shall be guilty of a misdemeanor and on conviction thereof liable to imprisonment for any term not exceeding seven years
(2) Nothing in paragraph (iii) of sub-section (1) of this section shall apply to or affect any trustee under any express trust created by a deed or will, or any mortgagee of any property, real or personal, in respect of any act done by the trustee or mortgagee in relation to the property comprised in or affected by any such trust or mortgage.
33. Every person who, being a trustee as herein-before defined, of any property for the use or benefit either wholly or c. 50, s. 21. partially of some other person, or for any public or charitable purpose, with intent to defraud converts or appropriates the same or any part thereof to or for his own use or benefit, or the use or benefit of any person other than such person as aforesaid, or for any purpose other than such public or charit- able purpose as aforesaid, or otherwise disposes of or destroys such property or any part thereof, shall be guilty of a mis- demeanor and on conviction thereof liable to imprisonment for any term not exceeding seven years: Provided that no prosecution for any offence included in this section shall be commenced-
Factors ob- taining
advances on
(a) by any person without the sanction of the Attorney General;
(b) by any person who has taken any civil proceedings against such trustee, without the sanction also of the court or judge before whom such civil proceedings have been had or are pending.
34. (1) Every person who, being a factor or agent en- trusted either solely or jointly with any other person for the the property purpose of sale or otherwise, with the possession of any goods or of any document of title to goods contrary to or without the authority of his principal in that behalf for his own use or benefit, or the use or benefit of any person other than the person by whom he was so entrusted, and in violation of good faith-
of their principals. 6 & 7 Geo. 5, c. 50, s. 22.
(i) consigns, deposits, transfers, or delivers any goods or document of title so entrusted to him as and by way of a fledge, lien, or security for any money or valuable security borrowed or received, or intended to be borrowed or received by him; or
1
(ii) accepts any advance of any money or valuable secur- ity on the faith of any contract or agreement to consign, deposit, transfer, or deliver any such goods or document of title:
shall be guilty of a misdemeanor and on conviction thereof liable to imprisonment for any term not exceeding seven years : Provided that no such factor or agent shall be liable to any prosecution for consigning, depositing, transferr- ing or delivering any such goods or documents of title, in case the same shall not be made a security for or subject to the payment of any greater sum of money than the amount which at the time of such consignment, deposit, transfer, or delivery, was justly due and owing to such agent from his principal,