(3) Any person convicted of the offence in this section is liable to the same penalties as are prescribed in section 319. CHAPTER XXXI—FRAUDS BY TRUSTEES AND PERSONS IN A POSITION OF TRUST, AND FALSE ACCOUNTING. 322. Fraudulent disposal of trust property. (1) Any person who, being a trustee of any property, destroys the property with intent to defraud, or, with intent to defraud, converts the property to any use not authorised by the trust, commits a felony and is liable to imprisonment for seven years. (2) For the purposes of this section, the term trustee means the following persons and no others— (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 written law for any such purpose; (c) persons upon whom the duties of any such trust as aforesaid devolve; (d) executors and administrators. 323. Fraudulent offences by directors and officers of corporations or companies. Any person who— (a) being a director or officer of a corporation or company, receives or possesses himself or herself as such of any of the property of the corporation or company otherwise than in payment of a just debt or demand, and with intent to defraud, omits either to make a full and true entry of the property in the books and accounts of the corporation or company, or to cause or direct such an entry to be made in them; or (b) being a director, officer or member of a corporation or company, does any of the following acts with intent to defraud— (i) destroys, alters, mutilates or falsifies any book, document, valuable security or account, which belongs to the corporation or company, or any entry in any such book, document or account, or is privy to any such act;