Labuan Offshores Trusts Act 1996 · Updated to 1 Dec 2011 · Part V · Miscellaneous
56. Power to compound
Official textFrom Laws of Malaysia Online, unchanged
The Authority may, with the consent in writing of the
Authority
―Authority‖ means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;
Public Prosecutor, compound any offence committed by any person under this Act by making a written offer to the person suspected to have committed the offence to compound the offence upon payment to the Authority of an amount of money not exceeding fifty per centum of the amount of maximum fine for that offence within such time as may be specified in the written offer.
person
―person‖ includes a corporation, a partnership, a body of persons, corporate or unincorporated, and a corporation sole;
An offer under subsection (1) may be made at any time after the offence has been committed but before any prosecution for it has been instituted, and if the amount specified in the offer is not paid within the time specified in the offer or such extended time as the
specified
―specified‖, where no mode is mentioned in this Act, means specified from time to time in writing, and a power to specify includes the power to specify differently for different persons or different classes, categories or description of persons;
82 Laws of Malaysia ACT 554
Malaysia
―Malaysia‖ means the territories of the Federation of Malaysia, the territorial waters of Malaysia and the sea-bed and subsoil of the Labuan Trusts 9 territorial waters, and includes any area extending beyond the limits of the territorial waters of Malaysia, and the sea-bed and subsoil of any such area, which has been or may hereafter be designated under the laws of Malaysia and in accordance with international law as an area over which Malaysia has sovereign rights for the purposes of exploring and exploiting the natural resources, whether living or non-living;
Authority may grant, prosecution for the offence may be instituted at any time after that against the person to whom the offer was made.
Where an offence has been compounded under subsection (1), no prosecution shall be instituted in respect of the offence against the person to whom the offer to compound was made.
Any document or thing seized in connection with the compounded offence may be released or forfeited by the Authority, subject to such terms and conditions as the Authority deems fit to impose in accordance with the conditions of the compound.
All sums of money received by the Authority under this section shall be paid into the Fund established under section 29 of the
Labuan Financial Services Authority Act 1996.
Terms defined in s 2
Authority
Defined · s 2―Authority‖ means the Labuan Financial Services Authority established under section 3 of the Labuan Financial Services Authority Act 1996;
Malaysia
Defined · s 2―Malaysia‖ means the territories of the Federation of Malaysia, the territorial waters of Malaysia and the sea-bed and subsoil of the Labuan Trusts 9 territorial waters, and includes any area extending beyond the limits of the territorial waters of Malaysia, and the sea-bed and subsoil of any such area, which has been or may hereafter be designated under the laws of Malaysia and in accordance with international law as an area over which Malaysia has sovereign rights for the purposes of exploring and exploiting the natural resources, whether living or non-living;
person
Defined · s 2―person‖ includes a corporation, a partnership, a body of persons, corporate or unincorporated, and a corporation sole;
specified
Defined · s 2―specified‖, where no mode is mentioned in this Act, means specified from time to time in writing, and a power to specify includes the power to specify differently for different persons or different classes, categories or description of persons;