12(1)In the [1916 c. 50.] Larceny Act 1916, in sections 24 to 28 (sacrilege, burglary, housebreaking and possession by night of implements of housebreaking etc.), for the expression " felony wherever it occurs otherwise than in the phrase " shall be guilty of felony ", there shall be substituted the expression " arrestable offence " ; and the same substitution shall be made in section 29(2)(b) (procuring execution etc. of valuable security by accusation of certain crimes).
(2)A person guilty of any offence under section 33(1) of the Larceny Act 1916 (receiving) shall be liable to imprisonment for a term not exceeding fourteen years ; but—
(a)in the [1914 c. 59.] Bankruptcy Act 1914, in section 154(3) (which was added by the [1926 c. 7.] Bankruptcy Amendment Act 1926, and in certain cases makes a person receiving property fraudulently disposed of by a bankrupt liable to the same punishment as a receiver of property obtained by a misdemeanour), for the words following the word " liable " there shall be substituted the words " on conviction on indictment to imprisonment for not more than seven years or on summary conviction to imprisonment for a term not exceeding six months or to a fine not exceeding a hundred pounds or to both "; and
(b)in the Companies Act 1948, in section 328(2), there shall be omitted paragraph (a) and in paragraph (b) the words " in Scotland ".
(3)In section 37(1) of the [1916 c. 50.] Larceny Act 1916 (which provides for an increased punishment for simple larceny after a previous conviction of felony) for the expression " felony " there shall be substituted the expression " an arrestable offence ", and accordingly in section 37(2)(a) after the words " indictable misdemeanour punishable under this Act " there shall be inserted the words " not being an arrestable offence ".
(4)In section 39(2) and (3) of the Larceny Act 1916 (trial in one part of the United Kingdom of persons having or receiving property stolen or feloniously taken in another part) for the word " feloniously " there shall be substituted the word " criminally " ; and the like substitution shall be made in section 40(3) (joinder of accused in indictment for feloniously receiving).
(5)In section 54 of the [1953 c. 36.] Post Office Act 1953 (which makes receivers of mail bags and other articles feloniously stolen etc. liable to the same punishment as the principal felon) for the words " a felony " there shall be substituted the words " an offence " , and the word " feloniously " shall be omitted.
(6)Nothing in this Act shall affect the punishment provided by section 33 of the Larceny Act 1916 for offences committed before the commencement of Part I of this Act.