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OL, you sound like a police officer :) "These people trespassing on commercial premises are a nuisance. Let's nick 'em for something " That rather ignores the fact that the something is intent to steal, which involves dishonesty, which they can't prove. You find the Vagrancy Act useful to stop this nuisance.
Well, the Vagrancy Act was well suited to that thinking. The old s4 was " suspected person loitering with intent to steal". Police would see a man try a car door handle; 'try' meaning 'touch'. That made him 'a suspected person'. When he touched a second door handle he became a suspected person 'with intent' and was nicked, which he couldn't have been for touching just one handle. I reality, the person was arrested for that well known offence of being "up to no good in the opinion of the officer"; the evidence seemed to be, or was, often invented for convenience..There was no 'attempt to steal' or 'going equipped to steal' needed.
Unfortunately, in this case, the act of appropriating was complete. So it was either theft or nothing. But it wasn't theft, because there was no dishonesty. So the tactic of using the Vagrancy Act went out of the window. That's why 'a senior' CPS lawyer abandoned the prosecution. Note that it was the police, not the CPS who decided to charge in the first case. Very embarrassing all round.