Section 262: Penalties for fraudulent disposal of mortgaged goods

(1)Any person who, being the mortgagor of mortgaged goods, removes or disposes of the goods without the consent of the mortgagee, and with intent to defraud, commits a misdemeanour.

(2)In this section, “mortgaged goods” includes any goods and chattels of any kind, and any animals, and any progency of any animals, and any crops or produce of the soil, whether growing or severed, which are subject for the time being, by virtue of the provisions of any written law or of any written instrument, to a valid charge or lien by way of security for any debt or obligation.