s 411 Receiving stolen property
411.—(1) Whoever receives or retains any property, knowing or having reason to believe the property to be stolen property or property obtained in whole or in part through an offence involving fraud or dishonesty, shall be punished with imprisonment for a term which may extend to 5 years, or with fine, or with both.[15/2019] (2) If the stolen property is a motor vehicle or any component part of a motor vehicle as defined in section 379A(3), a person convicted of an offence under this section —(a) shall be punished with imprisonment for a term which may extend to 5 years, and shall also be liable to fine; and (b) may be disqualified for such period as the court may order from the date of his release from imprisonment from holding or obtaining a driving licence under the Road Traffic Act 1961. (3) It is a defence for a person charged with an offence under subsection (1) to prove that he has a reasonable excuse to receive or retain the property and that he exercised reasonable care as soon as practicable after having the knowledge or reason to believe mentioned in that subsection.Illustration A large sum of money is credited into A’s bank account through a fund transfer. A later discovers the funds on checking his bank statement and has reason to believe that the funds were obtained in whole or in part through a criminal offence involving fraud or dishonesty. As soon as practicable after this discovery, A makes a report of the funds to the bank management and expresses his belief of the origins of the funds. A has a reasonable excuse for receiving and retaining the funds in his bank account while the report is being processed and has exercised reasonable care. [15/2019]