Malaysia legislation

Section 60

of *SECURITIES INDUSTRY (CENTRAL DEPOSITORIES) ACT 1991

Section 60

Power of Commission to compound

(1)

The Commission may, with the concurrence of the Public

Prosecutor without instituting proceedings against any person for an offence under this Act other than offences under subsections 3(2),

13(4), 43(3) and 46(3) and sections 47 and 48, compound any offence by demanding and receiving from such person a sum not exceeding fifty per centum of the amount of the maximum fine (including the daily fine, if any) to which the person would have been liable if he had been convicted of the offence, whereupon—

(a)

if such person pays such amount to the Commission within fourteen days after the demand, proceedings shall not be taken against him in relation to the offence; or

(b)

if such person does not pay the amount so demanded within fourteen days, the Commission may cause proceedings to be instituted in relation to the offence.

(2)

Any moneys paid to the Commission pursuant to subsection (1) shall be paid into and form part of the Federal

Consolidated Fund.

Criminal prosecution