Section 519: Every director, employee, or shareholder of a company who-

(a) fraudulently takes or applies property of the company for his 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, shall be guilty of an offence and is liable on conviction to a fine not exceeding Le8,000,000 or imprisonment for a term not exceeding 2 years or to both the fine and imprisonment.