211Fraudulent conversion and false accounts of money received by licensee or registered person

#### 211 Fraudulent conversion and false accounts of money received by licensee or registered person 211 Fraudulent conversion and false accounts of money received by licensee or registered person > > (1) This section applies to— > > > > > (a) any money received by a licensee or registered person on behalf of any person in respect of any transaction in the licensee’s or registered person’s capacity as a licensee or registered person, or any part of any such money, and > > > > > (b) any money so received that is held by the licensee or registered person as a stakeholder or in trust pending the completion of any transaction. > > > (2) If the licensee or registered person 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 or registered person is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years. > > > (3) If the licensee or registered person 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 or registered person is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years. > > > (4) If the licensee or registered person 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 or registered person 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 trier of fact is satisfied that the accused fraudulently converted the deficient money or any part of it. > > **s 211:** Am 2020 No 30, Sch 1.34.