260Fraudulent dealing by trustees

260 Fraudulent dealing by trustees

(1)  Any trustee who, with intent to defraud, destroys the trust property or any part thereof, or converts the same or any part thereof to any use not authorized by the trust, is guilty of a crime.

Charge:  Fraudulently dealing with trust property.

(2)  In this section trustee means –

(a) trustees upon express trusts created by a deed, will, or instrument in writing, whether for a public or private or charitable purpose;

(b) trustees appointed by or under the authority of a statute for any such purpose;

(c) persons upon whom the duties of any such trust as aforesaid devolve;

(d) executors and administrators; and

(e) receivers, assignees, liquidators, trustees, and other like officers acting under any law relating to companies, bankrupts, or insane persons, by whomsoever appointed or elected.

(3)  No prosecution shall be instituted under this section against a trustee by any person who has taken civil proceedings against such trustee in respect of the same matter except by leave of the judge of the court in which such civil proceedings were taken or are pending.