Criminal Code Act 1899 - Queensland Legislation

Schedule 1 The Criminal CodePart 6 Offences relating to property and contractsChapter 36 Stealing[s 394]thereof, or the proceeds or any part of the proceeds of suchsecurity, or of such mortgage, pledge, or other disposition,shall be applied to any purpose or paid to any person specifiedin the direction, such money and proceeds are deemed to bethe property of the person from whom the money, security, orpower of attorney, was received until the direction has beencomplied with.(2) However, if the person receiving the money, security orpower of attorney, and the person from whom the personreceives it ordinarily deal with each other on such terms thatin the absence of any special direction all money paid to theformer on account of the latter would be properly treated as anitem in a debtor and creditor account between them, theformer can not be charged with stealing the money or anysuch proceeds unless the direction is in writing.394 Funds etc. received by agents for saleWhen a person receives, either alone or jointly with anotherperson, any property from another on terms authorising orrequiring the person to sell it or otherwise dispose of it, andrequiring the person to pay or account for the proceeds of theproperty, or any part of such proceeds, or to deliver anythingreceived in exchange for the property, to the person fromwhom it is received, or some other person, then the proceedsof the property, and anything so received in exchange for it,are deemed to be the property of the person from whom theproperty was so received, until they have been disposed of inaccordance with the terms on which the property wasreceived, unless it is a part of those terms that the proceeds (ifany) shall form an item in a debtor and creditor accountbetween the person and the person to whom the person is topay them or account for them, and that the relation of debtorand creditor only shall exist between them in respect thereof.Current as at 1 December 2014 Page 237