Right.
I can add a little more detail. You're exactly right that section 38, one of the defences for protection of movable property, doesn't allow very much force to be used to defend that possession. But section 39 is another defence that exists for a person to use to defend their possession of movable property. The difference in the case of section 39 is that the person defending the property has a claim of right to the property, which is an element missing from section 38.
If you look at section 39, it's not limited in the same way that section 38 is limited. It talks about how this person “is protected from criminal responsibility for defending that possession, even against a person entitled by law to possession of it, if he uses no more force than is necessary”.