(1) Where property has been stolen and either -

(a) a person is convicted of an offence with reference to the theft (whether or not the stealing is the essential ingredient of the offence), or

(b) a person is convicted of any other offence but the first-mentioned offence is taken into consideration in determining his or her sentence,

the court by or before which the person is convicted may on the conviction (whether or not the passing of sentence is in other respects deferred) -

(i) order anyone having possession or control of the property to restore it to any person entitled to recover it from the convicted person,

(ii) on the application of a person entitled to recover from the convicted person any other property directly or indirectly representing the first-mentioned property (as being the proceeds of any disposal or realisation of the whole or part of it or of property so representing it), order that other property to be delivered or transferred to the applicant, or