CAP. 210]
[s. 32 cont.]
Conversion
by trustee.
c. 50, s. 21.
(b)
Larceny.
being a director, member or officer of any body corporate or public company, fraudulently takes or applies for his own use or benefit, or for any use or purposes other than the use or purposes of such body corporate or public company, any of the property of such body corporate or public company;
or
(c) (i) being entrusted either solely or jointly with any other person with any property in order that he may retain in safe custody or apply, pay, or deliver, for any purpose or to any person, the property or any part thereof or any proceeds thereof; or
(ii) 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 seven years.
(2) Nothing in paragraph (c) of subsection (1) 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. Any person who, being a trustee as herein before 6 & 7 Geo. 5, defined, of any property for the use or benefit either wholly or 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 charitable purpose as aforesaid, or otherwise disposes of or destroys such property or any part thereof, shall be guilty of a misdemeanor and on conviction thereof liable to imprisonment for seven years: Provided that no prosecution for any offence included in this section shall be commenced—
(a) by any person without the sanction of the Attorney General;
50