CONVEYANCERS LICENSING ACT 2003 - SECT 152
Fraudulent conversion and false accounts of money received by licensee
CONVEYANCERS LICENSING ACT 2003 - SECT 152
Fraudulent conversion and false accounts of money received by licensee
152 Fraudulent conversion and false accounts of money received by licensee
(1) This section applies to--
(a) any money received by a licensee on behalf
of any person in respect of any transaction in the licensee's capacity as a
licensee, or any part of any such money, and
(b) any money so received that
is held by the licensee as a stakeholder or in trust pending the completion of
any transaction.
(2) If the licensee fraudulently converts the money or any
part of that money to his or her own use or to the use of any other person,
the licensee is guilty of an indictable offence and liable to imprisonment for
a term of not more than 10 years.
(3) If the licensee fraudulently omits to
account for, deliver or pay the money or any part of the money to the person
from whom it was received or to the person or persons entitled to it, the
licensee is guilty of an indictable offence and liable to imprisonment for a
term of not more than 10 years.
(4) If the licensee fraudulently renders an
account of the money or any part of the money knowing the account to be false
in any material particular, the licensee is guilty of an indictable offence
and liable to imprisonment for a term of not more than 10 years.
(5) On the
prosecution of a person for an offence under this section it is not necessary
to prove the fraudulent conversion by the accused of any specific sum of money
if there is proof of a general deficiency on the examination of the books of
account, or entries kept, or made by the accused, or otherwise, and the jury
is satisfied that the accused fraudulently converted the deficient money or
any part of it.
