New Zealand Legislation: Acts

378 Fraudulent use or destruction of property

• Every director, employee, or shareholder of a company who—

  • (a) fraudulently takes or applies property of the company for his or her own use or benefit, or for a use or purpose other than the use or purpose of the company; or

  • (b) fraudulently conceals or destroys property of the company—

  commits an offence, and is liable on conviction to the penalties set out in section 373(4) of this Act.

  Compare: 1955 No 63 s 461A; 1980 No 43 s 47