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Criminal breach of trust. 405. Whoever, being in any manner entrusted with property, or with any dominion over property either solely or jointly with any other person dishonestly misappropriates, or converts to his own...
In the case of Barret v Hartley[13], a trustee who successfully managed the trust business for six years had failed to secure remuneration for his personal efforts in managing the trust. The next element is the no-profit rule .
Alan Kang & Co - Penal Code Section 405: Criminal Breach Of Trust Kuala Lumpur (KL), Malaysia, Selangor, We advise on intellectual property, divorce, adoption, debt recovery, company and corporate matters, property and real estate matters, will writing, probate and letter of administration, etc.
Nov 29, 2019 · Criminal breach of trust . The Penal Code (Act 574) covers a very wide range of offences that may be committed by directors towards the company. Dishonest breach of trust by company directors9 are generally prescribed under section 405 of the Penal Code.
trust property in respect of a fraudulent breach of trust (Section 22(1)); • six years for actions to recover trust property in respect of a breach of trust from the date the right of action accrued (Section 22(2)); • for actions in negligence (excluding personal injury), where the damage was not discover-
Penal Code Section 405: Criminal breach of trust. Whoever, being in any manner entrusted with property, or with any dominion over property either solely or jointly with any other person dishonestly misappropriates, or converts to his own use, that property, or dishonestly uses or disposes of that property in violation of any direction of law ...
For example, in a case where a company has suffered loss due to its director acquiring a secret profit in his capacity of a director, that said director would be in breach of his statutory duties, specifically the non-profit rule stipulated in Section 218 of CA 2016.
